Swedbank AB Has $327 Million Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Swedbank AB has reduced its stake in Quanta Services, Inc. by 27.7% during the second quarter by selling 332,165 shares, now holding a total of 864,897 shares valued at $327 million.
• Analysts are optimistic about Quanta Services, with major firms increasing their price targets; the stock has an average rating of "Moderate Buy" and a consensus target of $397.18.
• Quanta Services announced a quarterly dividend of $0.10 per share to be paid on October 10th, representing an annual yield of 0.1%.

Swedbank AB reduced its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 27.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 864,897 shares of the construction company's stock after selling 332,165 shares during the quarter. Swedbank AB owned about 0.58% of Quanta Services worth $327,000,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PWR. Brighton Jones LLC bought a new stake in shares of Quanta Services in the fourth quarter valued at about $298,000. State of Wyoming lifted its stake in shares of Quanta Services by 60,150.0% in the fourth quarter. State of Wyoming now owns 1,205 shares of the construction company's stock valued at $381,000 after buying an additional 1,203 shares during the period. Westwood Holdings Group Inc. bought a new stake in shares of Quanta Services in the fourth quarter valued at about $2,336,000. Vident Advisory LLC lifted its stake in shares of Quanta Services by 10.2% in the fourth quarter. Vident Advisory LLC now owns 3,385 shares of the construction company's stock valued at $1,070,000 after buying an additional 312 shares during the period. Finally, Woodline Partners LP bought a new stake in shares of Quanta Services in the fourth quarter valued at about $2,802,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of Quanta Services stock traded up $7.66 during midday trading on Monday, reaching $396.24. The company had a trading volume of 812,060 shares, compared to its average volume of 848,449. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $59.04 billion, a price-to-earnings ratio of 61.34, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. The stock has a fifty day simple moving average of $388.08 and a 200 day simple moving average of $341.07. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94.

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, beating 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 net margin of 3.73% and a return on equity of 18.41%. Quanta Services's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several research reports. Daiwa America cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Northland Securities cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target for the company. in a research note on Wednesday, July 2nd. TD Cowen raised their price target on shares of Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Evercore ISI raised their price target on shares of Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Truist Financial raised their price target on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Twelve investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $401.19.

Quanta Services 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.