Quanta Services, Inc. $PWR Shares Purchased by Resona Asset Management Co. Ltd.

by · The Cerbat Gem

Resona Asset Management Co. Ltd. lifted its position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 5.0% during the second quarter, Holdings Channel.com reports. The firm owned 50,920 shares of the construction company’s stock after acquiring an additional 2,445 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Quanta Services were worth $19,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at approximately $298,000. Mutual Advisors LLC boosted its holdings in Quanta Services by 21.3% in the 1st quarter. Mutual Advisors LLC now owns 975 shares of the construction company’s stock worth $248,000 after buying an additional 171 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in Quanta Services by 5.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,338 shares of the construction company’s stock worth $340,000 after buying an additional 68 shares in the last quarter. World Investment Advisors raised its holdings in shares of Quanta Services by 13.8% during the first quarter. World Investment Advisors now owns 824 shares of the construction company’s stock valued at $209,000 after acquiring an additional 100 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Quanta Services by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 201,838 shares of the construction company’s stock valued at $51,303,000 after acquiring an additional 15,145 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Quanta Services stock opened at $442.74 on Friday. The firm has a 50 day simple moving average of $413.20 and a 200-day simple moving average of $379.26. The stock has a market cap of $66.02 billion, a price-to-earnings ratio of 68.54, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $469.43.

Quanta Services (NYSE:PWR – Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 5.93%.

Insider Buying and Selling

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the transaction, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Seaport Res Ptn upgraded Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Roth Capital set a $500.00 target price on shares of Quanta Services and gave the company a “buy” rating in a research report on Friday, October 31st. Truist Financial boosted their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group increased their price objective on shares of Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a report on Monday. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $438.64.

Read Our Latest Stock Analysis on PWR

Quanta Services Company Profile

(Free Report)

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.

See Also

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