Quanta Services, Inc. $PWR Shares Sold by Nissay Asset Management Corp Japan ADV

Key Points

• Nissay Asset Management Corp Japan ADV reduced its stake in Quanta Services by 8.3%, holding 22,059 shares valued at approximately $5.6 million.
• Analysts have been adjusting their price targets for Quanta Services, with BMO Capital Markets increasing its target from $352 to $400, reflecting overall positive sentiment toward the stock.
• Quanta Services announced a quarterly dividend of $0.10 per share, with an ex-dividend date of October 1st, representing a 0.1% yield.

Nissay Asset Management Corp Japan ADV decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,059 shares of the construction company's stock after selling 1,984 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Quanta Services were worth $5,607,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in Quanta Services in the first quarter valued at $25,000. WPG Advisers LLC acquired a new stake in shares of Quanta Services during the first quarter valued at $31,000. AlphaQuest LLC acquired a new stake in shares of Quanta Services during the first quarter valued at $35,000. Zions Bancorporation National Association UT acquired a new stake in shares of Quanta Services during the first quarter valued at $40,000. Finally, OLD Second National Bank of Aurora acquired a new stake in shares of Quanta Services during the first quarter valued at $42,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PWR shares. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and increased their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. DA Davidson increased their price objective on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. increased their price objective on Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus increased their price objective on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, Mizuho began coverage on Quanta Services in a research note on Thursday. They set a "neutral" rating and a $360.00 price objective on the stock. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $397.18.

Quanta Services Stock Performance

Quanta Services stock opened at $372.56 on Friday. The stock's 50-day moving average is $387.38 and its 200-day moving average is $330.88. The company has a market cap of $55.52 billion, a price-to-earnings ratio of 57.67, a price-to-earnings-growth ratio of 2.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the business posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.19%.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.

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