Chevy Chase Trust Holdings LLC Has $29.75 Million Stake in Quanta Services, Inc. $PWR

Chevy Chase Trust Holdings LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,698 shares of the construction company’s stock after acquiring an additional 1,051 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Quanta Services were worth $29,754,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in Quanta Services during the first quarter worth $25,000. Copia Wealth Management raised its stake in Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of Quanta Services during the first quarter worth $31,000. Finally, Ameriflex Group Inc. grew its holdings in shares of Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after purchasing an additional 40 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $434.65 on Friday. The business’s 50-day simple moving average is $396.43 and its 200 day simple moving average is $361.04. The stock has a market cap of $64.77 billion, a price-to-earnings ratio of 67.28, a P/E/G ratio of 2.59 and a beta of 1.04. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $446.60. 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 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. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.10 per share. 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 dividend payout ratio (DPR) is 6.19%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PWR shares. Northland Capmk cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Stifel Nicolaus increased their target price on Quanta Services from $432.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Seaport Res Ptn upgraded Quanta Services to a “hold” rating in a report on Thursday, July 10th. Evercore ISI increased their target price on Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Sanford C. Bernstein cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price on the stock. in a report on Monday, July 28th. Fourteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $410.45.

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.