Arete Wealth Advisors LLC Buys New Holdings in Quanta Services, Inc. $PWR

Key Points

• Arete Wealth Advisors LLC purchased 853 shares of Quanta Services, Inc. for approximately $217,000 in the 1st quarter, contributing to a total institutional ownership of 90.49% of the company's stock.
• Analysts have varied opinions on Quanta Services, with Roth Capital raising its price target from $350.00 to $450.00, while Wall Street Zen downgraded it from "buy" to "hold," leading to an average target price of $397.18.
• Quanta Services recently reported quarterly earnings of $2.48 per share, exceeding expectations, along with a revenue increase of 21.1% year-over-year, and announced a quarterly dividend of $0.10 per share payable on October 10th.

Arete Wealth Advisors LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 853 shares of the construction company's stock, valued at approximately $217,000.

Several other large investors also recently added to or reduced their stakes in PWR. Brighton Jones LLC bought a new stake in shares of Quanta Services during the 4th quarter valued at about $298,000. NorthRock Partners LLC boosted its position in shares of Quanta Services by 147.5% during the 4th quarter. NorthRock Partners LLC now owns 1,995 shares of the construction company's stock valued at $631,000 after acquiring an additional 1,189 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Quanta Services in the 4th quarter worth approximately $5,368,000. Nissay Asset Management Corp Japan ADV lifted its position in Quanta Services by 36.4% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 24,043 shares of the construction company's stock worth $7,769,000 after buying an additional 6,417 shares during the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in Quanta Services in the 4th quarter worth approximately $689,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 0.9%

PWR stock traded up $3.37 during midday trading on Monday, hitting $385.90. The stock had a trading volume of 774,858 shares, compared to its average volume of 1,358,638. The firm has a market cap of $57.50 billion, a price-to-earnings ratio of 59.74, a price-to-earnings-growth ratio of 2.27 and a beta of 1.01. The business has a 50-day moving average of $387.66 and a two-hundred day moving average of $335.35. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company's quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities research 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. Shareholders 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 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio is currently 6.19%.

Analysts Set New Price Targets

PWR has been the subject of a number of recent research reports. Roth Capital restated a "buy" rating and issued a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Sanford C. Bernstein downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a research report on Monday, July 28th. Evercore ISI boosted their price objective on Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Finally, Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective for the company. in a research report on Wednesday, July 2nd. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $397.18.

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.