Quanta Services, Inc. $PWR Holdings Boosted by Temasek Holdings Private Ltd

Key Points

• Temasek Holdings increased its stake in Quanta Services by 169.8%, owning 91,977 shares worth approximately $23.4 million at the end of Q1.
• Thirteen analysts have provided a Buy rating while twelve rated it as a Hold, with an average target price of $397.18.
• Quanta Services recently declared a $0.10 quarterly dividend, indicating a 0.1% dividend yield, to be paid on October 10th.

Temasek Holdings Private Ltd increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 169.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,977 shares of the construction company's stock after buying an additional 57,882 shares during the period. Temasek Holdings Private Ltd owned about 0.06% of Quanta Services worth $23,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Vanguard Group Inc. raised its holdings in Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after buying an additional 407,878 shares during the period. Nuveen LLC acquired a new position in Quanta Services in the first quarter valued at about $404,288,000. Northern Trust Corp increased its position in Quanta Services by 3.8% in the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock valued at $392,839,000 after acquiring an additional 56,081 shares in the last quarter. Amundi raised its stake in shares of Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock worth $304,139,000 after buying an additional 788,079 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Quanta Services by 7.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock valued at $361,256,000 after buying an additional 82,981 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on PWR. TD Cowen upped their price objective on shares of Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Sanford C. Bernstein cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price on the stock. in a report on Monday, July 28th. Mizuho started coverage on Quanta Services in a report on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price objective for the company. UBS Group upped their target price on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Daiwa America downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and an average target price of $397.18.

Quanta Services Stock Up 4.4%

Shares of Quanta Services stock traded up $16.47 during trading on Wednesday, reaching $389.94. The company's stock had a trading volume of 1,305,827 shares, compared to its average volume of 1,366,069. The company has a 50-day simple moving average of $387.34 and a two-hundred day simple moving average of $332.25. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94. The company has a market cap of $58.10 billion, a price-to-earnings ratio of 60.36, a P/E/G ratio of 2.23 and a beta of 1.01. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the business posted $1.90 earnings per share. Quanta Services's revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a 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.