Aberdeen Group plc Boosts Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Aberdeen Group plc increased its stake in Quanta Services, boosting its position by 5.9% to a total of 112,162 shares worth approximately $42.6 million.
• Quanta Services recently reported earnings of $2.48 per share, slightly surpassing analyst estimates, alongside a quarterly revenue of $6.77 billion, marking a 21.1% year-over-year increase.
• Analysts have varied ratings on Quanta Services, with 14 buy ratings and 12 hold ratings, reflecting a consensus price target of about $408.45.

Aberdeen Group plc boosted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,162 shares of the construction company's stock after buying an additional 6,204 shares during the period. Aberdeen Group plc owned 0.08% of Quanta Services worth $42,633,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PWR. Kingstone Capital Partners Texas LLC purchased a new stake in Quanta Services during the 2nd quarter worth approximately $650,960,000. Nuveen LLC acquired a new position in shares of Quanta Services during the 1st quarter worth approximately $404,288,000. Amundi boosted its holdings in shares of Quanta Services by 188.3% during the 1st quarter. Amundi now owns 1,206,577 shares of the construction company's stock worth $304,139,000 after purchasing an additional 788,079 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Quanta Services by 433.3% during the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock worth $157,839,000 after purchasing an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWR has been the topic of several recent research reports. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. UBS Group boosted their target price on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a report on Friday, July 25th. DA Davidson boosted their target price on Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Citigroup upped their price objective on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, Wall Street Zen cut Quanta Services from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Fourteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and a consensus price target of $408.45.

Quanta Services Stock Down 3.0%

Shares of NYSE PWR opened at $417.15 on Monday. The firm has a market cap of $62.16 billion, a price-to-earnings ratio of 64.57, a PEG ratio of 2.47 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $443.97. The business's 50 day moving average is $391.79 and its two-hundred day moving average is $356.25.

Quanta Services (NYSE:PWR - Get Free Report) last announced its 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 company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter 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. Research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's 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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