4,305 Shares in Quanta Services, Inc. $PWR Bought by Lee Johnson Capital Management LLC

Key Points

• Lee Johnson Capital Management LLC purchased 4,305 shares of Quanta Services, Inc. for approximately $1.6 million, marking a notable new investment in the company.
• Quanta Services reported a quarterly earnings per share of $2.48, exceeding analysts' expectations, with revenues of $6.77 billion, reflecting a year-over-year growth of 21.1%.
• The company announced a quarterly dividend of $0.10 per share, with a dividend yield of 0.1%, scheduled for payment on October 10th.

Lee Johnson Capital Management LLC bought a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 4,305 shares of the construction company's stock, valued at approximately $1,628,000.

A number of other large investors also recently added to or reduced their stakes in PWR. Kingstone Capital Partners Texas LLC purchased a new position in Quanta Services in the 2nd quarter worth $650,960,000. Nuveen LLC bought a new stake in Quanta Services in the 1st quarter worth $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 worth $304,139,000 after acquiring an additional 788,079 shares during 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 worth $157,839,000 after acquiring an additional 504,540 shares during 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 worth $4,427,129,000 after acquiring an additional 407,878 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 0.9%

Shares of Quanta Services stock opened at $409.12 on Tuesday. 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 $60.96 billion, a PE ratio of 63.33, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The company has a 50-day simple moving average of $388.67 and a two-hundred day simple moving average of $346.40.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be issued 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 is Wednesday, October 1st. Quanta Services's payout ratio is presently 6.19%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PWR. Mizuho began coverage on shares of Quanta Services in a report on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price target on the stock. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Stifel Nicolaus raised their price target on shares of Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 4th. UBS Group raised their price target on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Roth Capital reissued a "buy" rating and issued a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $404.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.