Quanta Services, Inc. $PWR Shares Acquired by Ascent Group LLC

Ascent Group LLC boosted its position in Quanta Services, Inc. (NYSE:PWR) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,652 shares of the construction company’s stock after acquiring an additional 46 shares during the quarter. Ascent Group LLC’s holdings in Quanta Services were worth $3,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC acquired a new position in shares of Quanta Services in the 4th quarter valued at about $298,000. Merit Financial Group LLC lifted its stake in shares of Quanta Services by 15.9% in the 1st quarter. Merit Financial Group LLC now owns 1,767 shares of the construction company’s stock valued at $449,000 after purchasing an additional 243 shares in the last quarter. Radnor Capital Management LLC lifted its stake in shares of Quanta Services by 3.2% in the 1st quarter. Radnor Capital Management LLC now owns 7,350 shares of the construction company’s stock valued at $1,868,000 after purchasing an additional 225 shares in the last quarter. Congress Asset Management Co. lifted its stake in shares of Quanta Services by 0.9% in the 1st quarter. Congress Asset Management Co. now owns 47,148 shares of the construction company’s stock valued at $11,984,000 after purchasing an additional 406 shares in the last quarter. Finally, First Affirmative Financial Network acquired a new position in shares of Quanta Services in the 1st quarter valued at about $225,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

PWR stock opened at $421.88 on Friday. 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 stock has a market capitalization of $62.86 billion, a price-to-earnings ratio of 65.31, a PEG ratio of 2.50 and a beta of 1.04. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $431.24. The stock’s fifty day moving average is $389.67 and its two-hundred day moving average is $350.08.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period last year, the business posted $1.90 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PWR shares. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Mizuho assumed coverage on Quanta Services in a report on Thursday, September 4th. They set a “neutral” rating and a $360.00 target price on the stock. Jefferies Financial Group upgraded Quanta Services from a “hold” rating to a “buy” rating and raised their target price for the company from $398.00 to $469.00 in a report on Wednesday, September 24th. Wall Street Zen downgraded Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, DA Davidson raised their target price on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $404.27.

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.