718 Shares in Quanta Services, Inc. $PWR Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC acquired 718 shares of Quanta Services, Inc. valued at approximately $271,000 during Q2, signaling institutional interest in the construction company.
• Recent analyst ratings show a mix of downgrades and price target increases, with an average consensus rating of "Moderate Buy" and a target price of $404.27.
• Quanta Services announced a quarterly dividend of $0.10, with an annualized dividend yield of 0.1%, reflecting the company's commitment to returning value to shareholders.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 718 shares of the construction company's stock, valued at approximately $271,000.

A number of other hedge funds also recently bought and sold shares of PWR. Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services in the first quarter worth about $25,000. SOA Wealth Advisors LLC. grew its holdings in Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock valued at $26,000 after buying an additional 43 shares during the last quarter. WPG Advisers LLC acquired a new position in shares of Quanta Services during the first quarter worth approximately $31,000. AlphaQuest LLC bought a new stake in shares of Quanta Services in the first quarter valued at approximately $35,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Quanta Services in the first quarter worth $40,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PWR shares. Northland Capmk cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Stifel Nicolaus upped their price target on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 4th. Finally, TD Cowen lifted their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $404.27.

Quanta Services Stock Up 1.7%

NYSE PWR opened at $428.33 on Tuesday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $431.24. The company has a market capitalization of $63.83 billion, a price-to-earnings ratio of 66.30, a PEG ratio of 2.50 and a beta of 1.04. The stock's 50 day moving average is $390.00 and its two-hundred day moving average is $351.75. 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 (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the company earned $1.90 EPS. Quanta Services's revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be issued 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%.

About Quanta Services

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.

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