Albion Financial Group UT Grows Position in Quanta Services, Inc. $PWR

Key Points

• Albion Financial Group UT increased its position in Quanta Services, Inc. by 111.1% in Q2, owning 39,980 shares valued at $15,116,000 as of the end of the quarter.
• Quanta Services recently reported Q2 earnings of $2.48 EPS, exceeding estimates, and a revenue of $6.77 billion, marking a 21.1% year-over-year increase.
• The company announced a quarterly dividend of $0.10 per share, with an annualized yield of 0.1%, to be paid on October 10th.

Albion Financial Group UT increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 111.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,980 shares of the construction company's stock after purchasing an additional 21,044 shares during the period. Albion Financial Group UT's holdings in Quanta Services were worth $15,116,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new stake in Quanta Services in the 2nd quarter valued at about $650,960,000. Nuveen LLC purchased a new stake in Quanta Services in the 1st quarter valued at about $404,288,000. GAMMA Investing LLC boosted its position in Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after buying an additional 811,797 shares during the period. Amundi boosted its position in Quanta Services by 188.3% in the 1st quarter. Amundi now owns 1,206,577 shares of the construction company's stock valued at $304,139,000 after buying an additional 788,079 shares during the period. Finally, Jennison Associates LLC boosted its position in Quanta Services by 433.3% in the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after buying an additional 504,540 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Up 1.4%

NYSE PWR opened at $406.00 on Monday. 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 firm has a market cap of $60.50 billion, a PE ratio of 62.85, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. The company has a 50 day moving average price of $388.49 and a 200 day moving average price of $345.37. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. Quanta Services's revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services's payout ratio is 6.19%.

Analyst Ratings Changes

Several research firms have issued reports on PWR. UBS Group boosted their price objective 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. Northland Securities lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target for the company. in a report on Wednesday, July 2nd. Mizuho started coverage on shares of Quanta Services in a report on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price target for the company. BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Finally, Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a report on Thursday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $404.27.

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.

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