Breakwater Capital Group Acquires New Holdings in Quanta Services, Inc. $PWR

Key Points

• Breakwater Capital Group purchased 679 shares of Quanta Services, Inc. (NYSE:PWR), valued at approximately $257,000, marking its entry into a new investment position according to their recent 13F filing.
• Quanta Services has seen significant increases in stakes from other institutional investors, with Nuveen LLC acquiring a new stake valued at $404 million and GAMMA Investing LLC raising its stake by over 22,475%.
• The company reported earnings of $2.48 per share for its last quarter, exceeding analyst estimates, and also announced a quarterly dividend of $0.10 per share, reflecting a yield of 0.1%.

Breakwater Capital Group bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 679 shares of the construction company's stock, valued at approximately $257,000.

A number of other institutional investors have also modified their holdings of the company. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Quanta Services by 3.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock valued at $242,000 after buying an additional 32 shares during the period. Frank Rimerman Advisors LLC grew its holdings in shares of Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock valued at $792,000 after purchasing an additional 34 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its position in Quanta Services by 3.4% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock valued at $277,000 after purchasing an additional 36 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position in Quanta Services by 2.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock valued at $365,000 after purchasing an additional 37 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its position in Quanta Services by 15.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company's stock valued at $72,000 after purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Seaport Res Ptn raised shares of Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Roth Capital reiterated a "buy" rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. UBS Group upped their price objective 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, Northland Securities lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target for the company. in a research note on Wednesday, July 2nd. Twelve analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and a consensus price target of $401.19.

Quanta Services Stock Down 0.3%

Quanta Services stock traded down $1.31 during mid-day trading on Friday, hitting $389.34. The company's stock had a trading volume of 1,493,178 shares, compared to its average volume of 825,678. The firm's 50 day moving average is $387.90 and its 200 day moving average is $339.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The company has a market cap of $58.01 billion, a PE ratio of 60.27, a price-to-earnings-growth ratio of 2.31 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.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The company's 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, analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.19%.

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.