Securian Asset Management Inc. Trims Stake in Quanta Services, Inc. $PWR

Securian Asset Management Inc. reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,717 shares of the construction company’s stock after selling 115 shares during the period. Securian Asset Management Inc.’s holdings in Quanta Services were worth $2,918,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new position in shares of Quanta Services during the 1st quarter valued at $25,000. Copia Wealth Management grew its position in shares of Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. grew its position in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Quanta Services during the 1st quarter valued at $31,000. Finally, Ameriflex Group Inc. grew its position in shares of Quanta Services by 93.0% during the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after purchasing an additional 40 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PWR has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $395.00 to $436.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Northland Securities lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 target price for the company. in a research report on Wednesday, July 2nd. Citigroup upped their target price on shares of Quanta Services from $490.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus upped their target price on shares of Quanta Services from $432.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Truist Financial upped their target price on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $411.59.

Quanta Services Stock Performance

NYSE PWR opened at $437.30 on Wednesday. The firm has a market cap of $65.16 billion, a price-to-earnings ratio of 67.69, a PEG ratio of 2.61 and a beta of 1.04. The company has a 50-day simple moving average of $398.49 and a two-hundred day simple moving average of $364.40. 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 $446.60.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.90 earnings per share. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.10 per share. 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 dividend payout ratio is 6.19%.

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.