Sumitomo Mitsui DS Asset Management Company Ltd Purchases 6,225 Shares of Quanta Services, Inc. $PWR

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 15.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,816 shares of the construction company’s stock after buying an additional 6,225 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Quanta Services were worth $17,700,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PWR. Signal Advisors Wealth LLC boosted its position in Quanta Services by 8.0% during the 2nd quarter. Signal Advisors Wealth LLC now owns 19,472 shares of the construction company’s stock worth $7,362,000 after acquiring an additional 1,436 shares during the last quarter. Sarasin & Partners LLP lifted its position in shares of Quanta Services by 11.9% in the second quarter. Sarasin & Partners LLP now owns 21,337 shares of the construction company’s stock worth $8,067,000 after purchasing an additional 2,263 shares in the last quarter. Radnor Capital Management LLC boosted its holdings in Quanta Services by 3.7% during the second quarter. Radnor Capital Management LLC now owns 7,625 shares of the construction company’s stock worth $2,883,000 after purchasing an additional 275 shares during the last quarter. Westshore Wealth LLC bought a new position in Quanta Services in the second quarter valued at $219,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in Quanta Services in the 2nd quarter valued at $257,000. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of recent research reports. Sanford C. Bernstein downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective for the company. in a research note on Monday, July 28th. Northland Securities cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target for the company. in a research report on Wednesday, July 2nd. Mizuho started coverage on Quanta Services in a research note on Thursday, September 4th. They issued a “neutral” rating and a $360.00 price target for the company. TD Cowen upped their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Finally, Piper Sandler reissued an “overweight” rating and issued a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Twelve investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $401.19.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $391.23 on Friday. 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 capitalization of $58.30 billion, a P/E ratio of 60.56, a P/E/G ratio of 2.23 and a beta of 1.01. 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 of $387.78 and a 200-day moving average of $337.76.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results 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. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the firm posted $1.90 EPS. The company’s quarterly revenue 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 research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current 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%.

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.