AlTi Global Inc. Boosts Stock Position in Quanta Services, Inc. $PWR

Key Points

• AlTi Global Inc. increased its stake in Quanta Services, Inc. by 35.6% during the second quarter, valuing their holdings at $1,693,000.
• Quanta Services has been upgraded by several analysts, with Jefferies raising the price target from $398 to $469 and a consensus rating of "Moderate Buy."
• The company reported a quarterly revenue of $6.77 billion, exceeding estimates and showing a 21.1% year-over-year growth in revenue.

AlTi Global Inc. increased its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 35.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,442 shares of the construction company's stock after purchasing an additional 1,167 shares during the quarter. AlTi Global Inc.'s holdings in Quanta Services were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in Quanta Services during the 1st quarter worth about $25,000. Copia Wealth Management boosted its stake in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company's stock worth $25,000 after buying an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake in Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock worth $26,000 after buying an additional 43 shares during the last quarter. WPG Advisers LLC acquired a new stake in Quanta Services in the 1st quarter worth about $31,000. Finally, Ameriflex Group Inc. boosted its stake in Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company's stock worth $32,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research analyst reports. Jefferies Financial Group raised Quanta Services from a "hold" rating to a "buy" rating and raised their price target for the stock from $398.00 to $469.00 in a research note on Wednesday, September 24th. TD Cowen raised their price target on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Mizuho started coverage on Quanta Services in a research note on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price target on the stock. Stifel Nicolaus lifted their price objective on Quanta Services from $432.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Quanta Services in a research note on Wednesday, October 8th. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average price target of $411.59.

Quanta Services Price Performance

Shares of PWR opened at $441.09 on Friday. The company has a market cap of $65.73 billion, a P/E ratio of 68.28, a PEG ratio of 2.53 and a beta of 1.04. The stock has a fifty day moving average price of $401.36 and a 200 day moving average price of $367.34. 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, Inc. has a 12 month low of $227.08 and a 12 month high of $447.17.

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 for the quarter, beating the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion during 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 company's revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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