Quanta Services, Inc. $PWR Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Quanta Services, Inc. by 6.9%, owning 73,895 shares worth approximately $18.8 million as of its latest SEC filing.
• Quanta Services reported $2.48 earnings per share for the last quarter, exceeding analysts' expectations, with a 21.1% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.10 per share, representing a yield of 0.1% and a payout ratio of 6.19%.

Russell Investments Group Ltd. increased its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,895 shares of the construction company's stock after purchasing an additional 4,769 shares during the period. Russell Investments Group Ltd.'s holdings in Quanta Services were worth $18,786,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Frank Rimerman Advisors LLC increased its stake in Quanta Services by 1.1% in the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock valued at $792,000 after purchasing an additional 34 shares during the last quarter. Legacy Capital Wealth Partners LLC raised its position in Quanta Services by 3.4% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock valued at $277,000 after purchasing an additional 36 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Quanta Services by 2.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock valued at $365,000 after purchasing an additional 37 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Quanta Services by 15.6% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company's stock valued at $72,000 after purchasing an additional 38 shares during the period. Finally, Kerntke Otto McGlone Wealth Management Group boosted its stake in shares of Quanta Services by 3.0% in the first quarter. Kerntke Otto McGlone Wealth Management Group now owns 1,356 shares of the construction company's stock valued at $345,000 after purchasing an additional 39 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a report on Thursday, July 10th. DA Davidson lifted their price objective on Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a report on Wednesday, July 2nd. Citigroup lifted their price target on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $414.00 price target (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $7.54 during trading hours on Friday, hitting $385.75. The stock had a trading volume of 264,265 shares, compared to its average volume of 1,402,245. The stock's fifty day simple moving average is $384.80 and its 200 day simple moving average is $324.52. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94. The firm has a market capitalization of $57.48 billion, a price-to-earnings ratio of 59.71, a PEG ratio of 2.24 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

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

About Quanta Services

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.