Peregrine Asset Advisers Inc. Grows Holdings in Quanta Services, Inc. $PWR

Peregrine Asset Advisers Inc. grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 74.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,949 shares of the construction company’s stock after buying an additional 14,472 shares during the quarter. Quanta Services comprises 4.0% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 2nd biggest position. Peregrine Asset Advisers Inc.’s holdings in Quanta Services were worth $12,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC acquired a new position in shares of Quanta Services in the 4th quarter worth approximately $298,000. Rossby Financial LCC acquired a new position in shares of Quanta Services in the 1st quarter worth approximately $53,000. Teacher Retirement System of Texas grew its stake in shares of Quanta Services by 1,464.7% in the 1st quarter. Teacher Retirement System of Texas now owns 21,577 shares of the construction company’s stock worth $5,484,000 after purchasing an additional 20,198 shares during the last quarter. Mutual Advisors LLC grew its stake in shares of 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 purchasing an additional 171 shares during the last quarter. Finally, Silver Oak Securities Incorporated grew its stake in shares of Quanta Services by 27.5% in the 1st quarter. Silver Oak Securities Incorporated now owns 936 shares of the construction company’s stock worth $238,000 after purchasing an additional 202 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

PWR stock opened at $450.16 on Monday. 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 stock has a market cap of $67.08 billion, a P/E ratio of 69.68, a P/E/G ratio of 2.66 and a beta of 1.04. The firm has a 50 day simple moving average of $408.11 and a 200 day simple moving average of $375.80. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $469.43.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.24 by $0.09. The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a $0.10 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s payout ratio is 5.93%.

Wall Street Analyst Weigh In

PWR has been the topic of several recent research reports. Roth Capital set a $500.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday. Seaport Res Ptn raised shares of Quanta Services to a “hold” rating in a research note on Thursday, July 10th. Jefferies Financial Group upgraded shares of Quanta Services from a “hold” rating to a “buy” rating and raised their target price for the stock from $398.00 to $469.00 in a report on Wednesday, September 24th. Evercore ISI raised their target price on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday. Finally, DA Davidson raised their target price on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $435.55.

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.