Aaron Wealth Advisors LLC Purchases Shares of 681 Quanta Services, Inc. $PWR

Key Points

• Aaron Wealth Advisors LLC has invested approximately $257,000 in Quanta Services, Inc. by purchasing 681 shares in the second quarter.
• Quanta Services has seen significant interest from institutional investors, with 90.49% of the stock owned by large firms, including notable increases in positions by Nuveen LLC and GAMMA Investing LLC.
• The company recently reported earnings of $2.48 EPS for the quarter, exceeding estimates, and has announced a quarterly dividend of $0.10 per share for stockholders of record.

Aaron Wealth Advisors LLC bought a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 681 shares of the construction company's stock, valued at approximately $257,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SCP Investment LP acquired a new position in shares of Quanta Services in the first quarter worth about $966,000. Brighton Jones LLC acquired a new position in shares of Quanta Services in the fourth quarter worth about $298,000. Swedbank AB boosted its holdings in shares of Quanta Services by 50.5% in the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company's stock worth $304,269,000 after buying an additional 401,418 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Quanta Services by 3.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after buying an additional 2,479 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Quanta Services by 60.0% during the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after purchasing an additional 588 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.3%

NYSE PWR traded down $1.31 during trading hours on Friday, reaching $389.34. 1,493,178 shares of the company's stock were exchanged, compared to its average volume of 825,678. The company's 50-day moving average is $387.90 and its two-hundred day moving average is $339.32. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. 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 company has a market capitalization of $58.01 billion, a price-to-earnings ratio of 60.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last posted 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 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 analysts' expectations of $6.55 billion. During the same period in the prior year, the business earned $1.90 EPS. Quanta Services's revenue for the quarter 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 forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

PWR has been the subject of several research reports. The Goldman Sachs Group restated a "buy" rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. UBS Group lifted their price target on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wall Street Zen lowered shares of Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Northland Securities downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price on the stock. in a research note on Wednesday, July 2nd. Twelve research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $401.19.

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.