Strs Ohio Invests $17.04 Million in Quanta Services, Inc. $PWR

Key Points

• Strs Ohio has invested approximately $17.04 million in new shares of Quanta Services, acquiring 67,050 shares.
• Quanta Services has received recent upgrades from various analysts, with price targets ranging from $400.00 to $474.00 and a consensus rating of "Moderate Buy".
• The company will pay a $0.10 quarterly dividend to investors on October 10th, 2023, representing an annualized yield of 0.1%.

Strs Ohio bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 67,050 shares of the construction company's stock, valued at approximately $17,043,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PWR. Brighton Jones LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $298,000. NorthRock Partners LLC lifted its stake in shares of Quanta Services by 147.5% in the 4th quarter. NorthRock Partners LLC now owns 1,995 shares of the construction company's stock valued at $631,000 after purchasing an additional 1,189 shares during the period. Nomura Holdings Inc. purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $5,368,000. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Quanta Services by 36.4% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 24,043 shares of the construction company's stock valued at $7,769,000 after purchasing an additional 6,417 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in shares of Quanta Services by 8.1% in the 4th quarter. Quantinno Capital Management LP now owns 11,817 shares of the construction company's stock valued at $3,735,000 after purchasing an additional 890 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent research reports. 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 research note on Thursday, July 17th. UBS Group lifted their price objective on Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Sanford C. Bernstein cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a research note on Monday, July 28th. TD Cowen lifted their price objective on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Roth Capital reiterated a "buy" rating and set a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $397.18.

Quanta Services Stock Down 1.8%

Quanta Services stock opened at $382.50 on Friday. The firm has a market cap of $57.00 billion, a price-to-earnings ratio of 59.21, a PEG ratio of 2.31 and a beta of 1.01. The stock has a fifty day simple moving average of $387.66 and a two-hundred day simple moving average of $334.36. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. 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 posted its earnings results 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 business had revenue of $6.77 billion during the quarter, compared to analyst estimates 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 quarter last year, the company earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

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.

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