First Interstate Bank Buys New Shares in Quanta Services, Inc. $PWR

First Interstate Bank bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 650 shares of the construction company’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Kingstone Capital Partners Texas LLC purchased a new position in Quanta Services in the second quarter valued at $650,960,000. Nuveen LLC purchased a new position in Quanta Services in the first quarter valued at $404,288,000. Amundi boosted its holdings in Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after purchasing an additional 788,079 shares during the period. Jennison Associates LLC boosted its holdings in Quanta Services by 433.3% in the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock valued at $157,839,000 after purchasing an additional 504,540 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Down 0.7%

Quanta Services stock opened at $434.65 on Monday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $446.60. 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 capitalization of $64.77 billion, a P/E ratio of 67.28, a PEG ratio of 2.57 and a beta of 1.04. The stock has a 50-day simple moving average of $396.43 and a 200-day simple moving average of $362.48.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the business earned $1.90 EPS. The business’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. Equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Evercore ISI lifted their price target on Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Wall Street Zen downgraded Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. TD Cowen lifted their price target on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price target on Quanta Services from $395.00 to $436.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Northland Securities downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target for the company. in a report on Wednesday, July 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $410.45.

Quanta Services 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.