Advisors Asset Management Inc. Increases Stake in Quanta Services, Inc. $PWR

Key Points

• Advisors Asset Management Inc. increased its stake in Quanta Services, Inc. by 10.7%, owning a total of 54,735 shares valued at approximately $13.9 million.
• Quanta Services recently reported a quarterly earnings per share of $2.48, exceeding analysts' estimates and showing a revenue increase of 21.1% compared to the previous year.
• The company declared a quarterly dividend of $0.10 per share, with an ex-dividend date set for October 1st, representing an annualized yield of 0.1%.

Advisors Asset Management Inc. raised its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,735 shares of the construction company's stock after acquiring an additional 5,312 shares during the quarter. Advisors Asset Management Inc.'s holdings in Quanta Services were worth $13,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. SCP Investment LP bought a new position in shares of Quanta Services during the 1st quarter worth $966,000. Brighton Jones LLC bought a new position in shares of Quanta Services during the 4th quarter worth $298,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Quanta Services by 3.7% during the 1st 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 in the last quarter. Farther Finance Advisors LLC grew its position in shares of Quanta Services by 60.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after buying an additional 588 shares in the last quarter. Finally, Objectivity Squared LLC bought a new stake in Quanta Services during the first quarter valued at about $213,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of NYSE:PWR traded down $3.53 during trading on Friday, hitting $372.56. The stock had a trading volume of 1,128,430 shares, compared to its average volume of 846,491. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The stock has a market capitalization of $55.52 billion, a price-to-earnings ratio of 57.67, a price-to-earnings-growth ratio of 2.21 and a beta of 1.01. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $387.38 and a two-hundred day simple moving average of $330.88.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (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 firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same period last year, the business posted $1.90 earnings per share. The company'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, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared 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 is Wednesday, October 1st. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

Analyst Upgrades and Downgrades

PWR has been the topic of several analyst reports. Roth Capital reiterated a "buy" rating and issued a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted their target price on Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Mizuho initiated coverage on Quanta Services in a research note on Thursday. They issued a "neutral" rating and a $360.00 target price on the stock. Citigroup lifted their target price on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and a consensus target price of $397.18.

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.