Glenview Trust co Purchases 1,397 Shares of Quanta Services, Inc. $PWR

Glenview Trust co lifted its position in Quanta Services, Inc. (NYSE:PWR) by 25.2% during the 1st quarter, HoldingsChannel reports. The firm owned 6,949 shares of the construction company’s stock after buying an additional 1,397 shares during the period. Glenview Trust co’s holdings in Quanta Services were worth $1,766,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services in the first quarter worth $25,000. WPG Advisers LLC bought a new position in shares of Quanta Services in the first quarter worth $31,000. AlphaQuest LLC bought a new position in shares of Quanta Services in the first quarter worth $35,000. Zions Bancorporation National Association UT bought a new position in Quanta Services in the first quarter valued at $40,000. Finally, OLD Second National Bank of Aurora bought a new position in Quanta Services in the first quarter valued at $42,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $389.94 on Thursday. The company has a 50-day simple moving average of $387.67 and a two-hundred day simple moving average of $332.65. 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, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The firm has a market cap of $58.10 billion, a price-to-earnings ratio of 60.36, a PEG ratio of 2.22 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted 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 net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the business posted $1.90 earnings per share. The company’s 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. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.19%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. BMO Capital Markets cut Quanta Services from an “outperform” rating to a “market perform” rating and increased their target price for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Roth Capital reissued a “buy” rating and issued a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. UBS Group increased their target price on Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Sanford C. Bernstein lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target for the company. in a research report on Monday, July 28th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $397.18.

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.