Quanta Services, Inc. $PWR Stock Holdings Raised by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS raised its stake in Quanta Services by 12.3%, now owning 99,500 shares valued at approximately $37.6 million.
• Quanta Services announced a quarterly dividend of $0.10 per share, with the payment date set for October 10th for stockholders of record on October 1st.
• Wall Street analysts have a generally positive outlook on Quanta Services, with fourteen analysts rating it as a "Buy" and an average price target of $404.27.

KLP Kapitalforvaltning AS raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 99,500 shares of the construction company's stock after purchasing an additional 10,900 shares during the period. KLP Kapitalforvaltning AS owned 0.07% of Quanta Services worth $37,619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Old Port Advisors increased its position in shares of Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company's stock worth $1,491,000 after purchasing an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in shares of Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock valued at $242,000 after buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in shares of Quanta Services by 1.1% during the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock valued at $792,000 after buying an additional 34 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its position in shares of Quanta Services by 3.4% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock valued at $277,000 after buying an additional 36 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its position in shares of Quanta Services by 2.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock valued at $365,000 after buying an additional 37 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research report on Monday, August 4th. DA Davidson boosted their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. UBS Group boosted their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wall Street Zen cut shares of Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Fourteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $404.27.

Quanta Services Trading Down 1.3%

Shares of NYSE:PWR opened at $422.45 on Wednesday. The company has a 50 day moving average of $390.22 and a 200-day moving average of $352.24. The firm has a market cap of $62.95 billion, a P/E ratio of 65.39, a P/E/G ratio of 2.54 and a beta of 1.04. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $434.39. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

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

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services's dividend payout ratio is currently 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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