Wellington Management Group LLP Boosts Holdings in Quanta Services, Inc. $PWR

Wellington Management Group LLP raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 10.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,193 shares of the construction company’s stock after buying an additional 113 shares during the quarter. Wellington Management Group LLP’s holdings in Quanta Services were worth $303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services in the 1st quarter valued at about $25,000. Zions Bancorporation National Association UT acquired a new position in shares of Quanta Services in the 1st quarter valued at about $40,000. OLD Second National Bank of Aurora acquired a new position in shares of Quanta Services in the 1st quarter valued at about $42,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Quanta Services in the 1st quarter valued at about $43,000. Finally, Wellington Shields & Co. LLC lifted its stake in shares of Quanta Services by 72.8% in the 1st quarter. Wellington Shields & Co. LLC now owns 178 shares of the construction company’s stock valued at $45,000 after purchasing an additional 75 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR opened at $374.61 on Wednesday. The business’s 50 day moving average is $387.65 and its two-hundred day moving average is $329.08. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The firm has a market cap of $55.82 billion, a price-to-earnings ratio of 57.99, a PEG ratio of 2.24 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 (NYSE:PWR) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the company posted $1.90 EPS. Quanta Services’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. Analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm 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 $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.19%.

Analyst Ratings Changes

PWR has been the topic of several research analyst reports. TD Cowen lifted their price objective on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Northland Securities lowered Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target on the stock. in a research report on Wednesday, July 2nd. UBS Group boosted their price target on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. BMO Capital Markets lowered Quanta Services from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, Piper Sandler reissued an “overweight” rating and set a $370.00 price target (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $392.45.

Quanta Services Company 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.