UMB Bank n.a. Sells 6,348 Shares of Quanta Services, Inc. $PWR

Key Points

• UMB Bank n.a. reduced its holdings in Quanta Services, Inc. by 36.7%, selling 6,348 shares, with current holdings worth $4,143,000.
• Several institutional investors, including Swedbank AB, have increased their stakes, with Swedbank lifting its position by 50.5% in the first quarter.
• Analysts have a positive outlook on Quanta Services, with multiple firms raising their price targets, resulting in an average forecast of $401.19 and a consensus rating of “Moderate Buy.”

UMB Bank n.a. cut its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 36.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,958 shares of the construction company's stock after selling 6,348 shares during the period. UMB Bank n.a.'s holdings in Quanta Services were worth $4,143,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new stake in Quanta Services during the first quarter valued at about $25,000. WPG Advisers LLC bought a new stake in Quanta Services during the first quarter valued at about $31,000. Webster Bank N. A. boosted its holdings in Quanta Services by 57.8% during the second quarter. Webster Bank N. A. now owns 131 shares of the construction company's stock valued at $50,000 after acquiring an additional 48 shares during the period. AlphaQuest LLC bought a new stake in Quanta Services during the first quarter valued at about $35,000. Finally, Zions Bancorporation National Association UT bought a new stake in Quanta Services during the first quarter valued at about $40,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Shares of NYSE PWR traded up $7.66 during mid-day trading on Monday, hitting $396.24. 812,060 shares of the stock were exchanged, compared to its average volume of 1,349,721. 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 company has a market cap of $59.04 billion, a P/E ratio of 61.34, a PEG ratio of 2.31 and a beta of 1.01. The stock's fifty day simple moving average is $387.90 and its two-hundred day simple moving average is $340.01. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company's revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal 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 paid a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio is 6.19%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Mizuho initiated coverage on shares of Quanta Services in a report on Thursday, September 4th. They set a "neutral" rating and a $360.00 price target for the company. Truist Financial lifted their target price on Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Roth Capital reissued a "buy" rating and set a $450.00 target price (up from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Finally, Stifel Nicolaus lifted their target price on Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Twelve equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.