Quanta Services, Inc. $PWR Shares Purchased by Amalgamated Bank

Amalgamated Bank raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.5% in the second quarter, Holdings Channel.com reports. The fund owned 31,887 shares of the construction company’s stock after buying an additional 1,656 shares during the quarter. Amalgamated Bank’s holdings in Quanta Services were worth $12,056,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Spinnaker Trust purchased a new stake in Quanta Services during the second quarter valued at about $349,000. Savvy Advisors Inc. purchased a new stake in Quanta Services during the second quarter valued at about $402,000. Assetmark Inc. grew its position in Quanta Services by 29.7% during the second quarter. Assetmark Inc. now owns 5,235 shares of the construction company’s stock valued at $1,979,000 after acquiring an additional 1,200 shares during the period. Premier Path Wealth Partners LLC grew its position in Quanta Services by 4.0% during the second quarter. Premier Path Wealth Partners LLC now owns 1,112 shares of the construction company’s stock valued at $421,000 after acquiring an additional 43 shares during the period. Finally, Arkadios Wealth Advisors grew its position in Quanta Services by 14.0% during the second quarter. Arkadios Wealth Advisors now owns 18,915 shares of the construction company’s stock valued at $7,152,000 after acquiring an additional 2,322 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PWR. Sanford C. Bernstein downgraded 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. Citigroup boosted their price objective on Quanta Services from $490.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Evercore ISI boosted their price target on Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Quanta Services in a research report on Wednesday, October 8th. Finally, BMO Capital Markets lowered Quanta Services from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Fourteen investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.09.

Quanta Services Trading Up 1.0%

NYSE:PWR opened at $453.20 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. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $460.86. The business’s 50-day simple moving average is $406.70 and its 200 day simple moving average is $373.13. The stock has a market cap of $67.53 billion, a price-to-earnings ratio of 70.15, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the previous year, the firm posted $2.72 earnings per share. The company’s revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were paid a $0.10 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services’s 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.