Sunburst Financial Group LLC Raises Holdings in Quanta Services, Inc. $PWR

Sunburst Financial Group LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 25.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 990 shares of the construction company’s stock after purchasing an additional 200 shares during the quarter. Sunburst Financial Group LLC’s holdings in Quanta Services were worth $374,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new stake in Quanta Services in the 2nd quarter valued at $650,960,000. Nuveen LLC purchased a new stake in Quanta Services in the 1st quarter valued at $404,288,000. Amundi grew its holdings in Quanta Services by 188.3% in the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after buying an additional 788,079 shares in the last quarter. Jennison Associates LLC grew its holdings in Quanta Services by 433.3% in the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock valued at $157,839,000 after buying an additional 504,540 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after buying an additional 407,878 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

NYSE PWR opened at $450.65 on Tuesday. The stock has a market cap of $67.15 billion, a PE ratio of 69.76, a P/E/G ratio of 2.66 and a beta of 1.04. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $469.43. The stock has a fifty day simple moving average of $409.56 and a 200-day simple moving average of $377.09.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (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 firm had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the company earned $2.72 EPS. Quanta Services’s revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities analysts anticipate 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. Investors of record on Wednesday, October 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services’s dividend payout ratio is presently 5.93%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Roth Capital set a $500.00 target price on Quanta Services and gave the company a “buy” rating in a report on Friday. Argus set a $540.00 target price on Quanta Services in a report on Friday. Seaport Res Ptn upgraded Quanta Services to a “hold” rating in a report on Thursday, July 10th. Evercore ISI increased their price target on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Mizuho set a $415.00 price target on Quanta Services in a report on Tuesday, October 28th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $438.64.

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.