MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Makes New Investment in Quanta Services, Inc. $PWR

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 260 shares of the construction company’s stock, valued at approximately $98,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Cullen Frost Bankers Inc. purchased a new stake in shares of Quanta Services during the 1st quarter worth $25,000. WPG Advisers LLC purchased a new stake in shares of Quanta Services during the 1st quarter worth about $31,000. AlphaQuest LLC purchased a new stake in shares of Quanta Services during the 1st quarter worth about $35,000. Zions Bancorporation National Association UT purchased a new position in Quanta Services in the 1st quarter worth approximately $40,000. Finally, OLD Second National Bank of Aurora purchased a new position in shares of Quanta Services during the 1st quarter valued at approximately $42,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Down 1.0%

PWR stock opened at $398.85 on Friday. The stock’s 50 day simple moving average is $388.44 and its 200 day simple moving average is $342.96. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. 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 $59.43 billion, a P/E ratio of 61.74, a price-to-earnings-growth ratio of 2.39 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates 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 for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, research analysts expect 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 given a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio is currently 6.19%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PWR. Roth Capital reissued a “buy” rating and set a $450.00 price target (up from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Citigroup raised their target price on Quanta Services from $432.00 to $492.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. TD Cowen increased their price target on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Seaport Res Ptn raised Quanta Services to a “hold” rating in a research note on Thursday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $404.27.

About Quanta Services

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.