CIBC Bancorp USA Inc. Makes New Investment in Quanta Services, Inc. $PWR

CIBC Bancorp USA Inc. purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,529 shares of the construction company’s stock, valued at approximately $8,508,000.

Several other institutional investors have also modified their holdings of PWR. Vanguard Group Inc. lifted its position in Quanta Services by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company’s stock valued at $7,519,079,000 after purchasing an additional 386,937 shares during the last quarter. JPMorgan Chase & Co. grew its position in Quanta Services by 0.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock worth $2,579,259,000 after purchasing an additional 49,334 shares during the last quarter. State Street Corp increased its stake in shares of Quanta Services by 1.2% in the third quarter. State Street Corp now owns 6,080,747 shares of the construction company’s stock valued at $2,519,983,000 after purchasing an additional 73,460 shares during the period. Bank of America Corp DE raised its holdings in shares of Quanta Services by 35.6% during the third quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock valued at $1,208,672,000 after buying an additional 765,822 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Quanta Services by 57.2% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock worth $917,009,000 after buying an additional 882,209 shares during the period. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PWR shares. DA Davidson increased their price objective on Quanta Services from $450.00 to $575.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Truist Financial reiterated a “buy” rating and set a $643.00 price target (up from $548.00) on shares of Quanta Services in a research report on Friday, February 20th. Bank of America increased their price target on Quanta Services from $500.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. B. Riley Financial lifted their price objective on shares of Quanta Services from $450.00 to $565.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Finally, Sanford C. Bernstein upped their price objective on shares of Quanta Services from $471.00 to $515.00 and gave the stock a “market perform” rating in a report on Tuesday, February 24th. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $576.55.

Quanta Services Stock Performance

NYSE PWR opened at $555.73 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.14 and a quick ratio of 1.09. The company’s fifty day moving average is $518.34 and its two-hundred day moving average is $458.97. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $583.73. The firm has a market capitalization of $83.15 billion, a price-to-earnings ratio of 81.72, a P/E/G ratio of 2.63 and a beta of 1.10.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 19th. The construction company reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.14. Quanta Services had a return on equity of 18.10% and a net margin of 3.61%.The company had revenue of $7.84 billion during the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter last year, the company earned $2.94 EPS. The company’s quarterly revenue was up 19.7% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 12.650-13.350 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, April 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 6.47%.

About Quanta Services

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.