Quanta Services, Inc. $PWR Shares Purchased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Quanta Services by 8.6% in Q1, acquiring 47,469 additional shares for a total value of approximately $152 million.
• Quanta Services reported quarterly earnings of $2.48 EPS, exceeding analysts' expectations and reflecting a revenue increase of 21.1% year-over-year to $6.77 billion.
• The company recently announced a quarterly dividend of $0.10 per share, contributing to a low annual yield of 0.1%, with a payout ratio of 6.19%.

Voya Investment Management LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 598,067 shares of the construction company's stock after acquiring an additional 47,469 shares during the quarter. Voya Investment Management LLC owned 0.40% of Quanta Services worth $152,017,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after purchasing an additional 407,878 shares in the last quarter. Nuveen LLC acquired a new position in shares of Quanta Services during the first quarter valued at approximately $404,288,000. Northern Trust Corp lifted its position in shares of Quanta Services by 3.8% in the first 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 boosted its stake in shares of Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock worth $304,139,000 after acquiring an additional 788,079 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Quanta Services by 7.8% during 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 worth $361,256,000 after purchasing an additional 82,981 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Piper Sandler reissued an "overweight" rating and issued a $370.00 price target (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. UBS Group raised their target price on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $397.18.

Quanta Services Trading Down 1.8%

NYSE:PWR traded down $7.14 on Friday, reaching $382.50. The company's stock had a trading volume of 833,428 shares, compared to its average volume of 807,221. The firm 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. 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, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The stock has a 50 day moving average price of $387.66 and a 200 day moving average price of $335.35.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion for 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 was up 21.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

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.