Quanta Services, Inc. $PWR Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Quanta Services by 15.3%, acquiring an additional 6,225 shares, bringing its total to 46,816 shares worth approximately $17.7 million.
• Quanta Services reported a strong quarterly performance with $2.48 EPS, surpassing estimates and experiencing a 21.1% year-over-year revenue increase to $6.77 billion.
• The company also declared a quarterly dividend of $0.10 per share, which reflects a 0.1% annual yield, and has a dividend payout ratio of 6.19%.

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 15.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 46,816 shares of the construction company's stock after purchasing an additional 6,225 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Quanta Services were worth $17,700,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Quanta Services by 3.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock valued at $242,000 after purchasing an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC grew its holdings in 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 in the last quarter. Legacy Capital Wealth Partners LLC lifted its stake in shares of Quanta Services by 3.4% in the 1st 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 last quarter. Commerzbank Aktiengesellschaft FI lifted its stake 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 worth $365,000 after acquiring an additional 37 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Quanta Services by 15.6% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company's stock valued at $72,000 after acquiring an additional 38 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

PWR traded up $0.45 on Monday, reaching $389.03. The company had a trading volume of 172,040 shares, compared to its average volume of 1,346,023. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The business has a 50 day simple moving average of $387.90 and a 200 day simple moving average of $340.01. The company has a market cap of $57.97 billion, a price-to-earnings ratio of 60.22, a P/E/G ratio of 2.31 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The firm 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%.Quanta Services's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stifel Nicolaus boosted their price objective on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 4th. DA Davidson raised 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. TD Cowen lifted their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Mizuho started coverage on Quanta Services in a report on Thursday, September 4th. They set a "neutral" rating and a $360.00 price objective for the company. Finally, Northland Capmk cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Twelve analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and a consensus target price of $401.19.

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.