United Services Automobile Association Makes New $892,000 Investment in Quanta Services, Inc. $PWR

Key Points

• United Services Automobile Association acquired a new stake in Quanta Services, valued at approximately $892,000, by purchasing 3,507 shares in the 1st quarter.
• Quanta Services reported earnings of $2.48 per share for the last quarter, exceeding estimates, and generated revenue of $6.77 billion, a 21.1% increase year-over-year.
• The company plans to pay a quarterly dividend of $0.10 on October 10th, yielding an annualized dividend of 0.1%.

United Services Automobile Association bought a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,507 shares of the construction company's stock, valued at approximately $892,000.

Other large investors have also added to or reduced their stakes in the company. Arete Wealth Advisors LLC acquired a new position in shares of Quanta Services during the first quarter valued at about $217,000. Great Lakes Advisors LLC increased its holdings in shares of Quanta Services by 2.0% during the first quarter. Great Lakes Advisors LLC now owns 379,543 shares of the construction company's stock valued at $97,228,000 after acquiring an additional 7,366 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Quanta Services during the first quarter valued at about $846,000. Temasek Holdings Private Ltd increased its holdings in shares of Quanta Services by 169.8% during the first quarter. Temasek Holdings Private Ltd now owns 91,977 shares of the construction company's stock valued at $23,379,000 after acquiring an additional 57,882 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in Quanta Services by 11.7% in the first quarter. NewEdge Advisors LLC now owns 16,606 shares of the construction company's stock valued at $4,221,000 after buying an additional 1,736 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PWR. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Northland Securities lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price on the stock. in a research report on Wednesday, July 2nd. TD Cowen upped their target price on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Citigroup upped their price objective on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, UBS Group upped their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $397.18.

Quanta Services Price Performance

PWR stock traded down $7.14 during midday trading on Friday, reaching $382.50. The stock had a trading volume of 833,428 shares, compared to its average volume of 807,221. The company's fifty day simple moving average is $387.66 and its 200 day simple moving average is $335.35. 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 cap of $56.99 billion, a price-to-earnings ratio of 59.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.01. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data 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. 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 analyst estimates of $6.55 billion. During the same quarter last year, the firm posted $1.90 EPS. The firm'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, sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be paid 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 6.19%.

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.