State of New Jersey Common Pension Fund D Has $12.55 Million Holdings in Quanta Services, Inc. $PWR

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Quanta Services, Inc. by 4.5%, now owning 49,370 shares worth approximately $12.5 million.
• Quanta Services has seen a positive trend from analysts, with 14 buy ratings and a consensus price target of $392.45.
• The company reported earnings of $2.48 per share for the last quarter, exceeding analyst expectations and reflecting a 21.1% year-over-year revenue increase.

State of New Jersey Common Pension Fund D decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,370 shares of the construction company's stock after selling 2,325 shares during the period. State of New Jersey Common Pension Fund D's holdings in Quanta Services were worth $12,549,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PWR. SCP Investment LP bought a new stake in Quanta Services in the 1st quarter valued at $966,000. Brighton Jones LLC bought a new position in Quanta Services during the fourth quarter worth about $298,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after purchasing an additional 2,479 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after buying an additional 588 shares in the last quarter. Finally, Objectivity Squared LLC bought a new position in shares of Quanta Services during the 1st quarter worth approximately $213,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Shares of PWR stock traded down $3.73 during trading hours on Wednesday, reaching $375.54. 1,142,308 shares of the company were exchanged, compared to its average volume of 1,414,129. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The company has a market cap of $55.96 billion, a price-to-earnings ratio of 58.13, a P/E/G ratio of 2.28 and a beta of 1.10. The stock's fifty day moving average is $384.01 and its two-hundred day moving average is $323.64. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94.

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. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter in the previous year, the company posted $1.90 EPS. Quanta Services's revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.19%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and lifted their price objective for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Sanford C. Bernstein lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a research report on Monday, July 28th. Truist Financial raised their price objective on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Seaport Res Ptn raised Quanta Services to a "hold" rating in a report on Thursday, July 10th. Finally, Citigroup increased their price target on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Thirteen research 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, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $392.45.

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.