Ameritas Advisory Services LLC Acquires New Shares in Quanta Services, Inc. $PWR

Key Points

• Ameritas Advisory Services LLC acquired a new stake in Quanta Services, purchasing 3,673 shares valued at approximately $1,389,000 during the second quarter.
• Quanta Services reported $2.48 EPS for the last quarter, surpassing analyst estimates, with annual revenue increasing by 21.1% year-over-year.
• The company announced a quarterly dividend of $0.10 per share, reflecting a yield of 0.1%, with the ex-dividend date set for October 1st.

Ameritas Advisory Services LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,673 shares of the construction company's stock, valued at approximately $1,389,000.

A number of other hedge funds have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in Quanta Services during the 1st quarter worth approximately $25,000. SOA Wealth Advisors LLC. lifted its holdings in shares of Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock worth $26,000 after purchasing an additional 43 shares during the period. WPG Advisers LLC acquired a new position in Quanta Services during the 1st quarter worth about $31,000. AlphaQuest LLC acquired a new position in Quanta Services during the 1st quarter worth about $35,000. Finally, Zions Bancorporation National Association UT acquired a new position in Quanta Services during the 1st quarter worth about $40,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $421.88 on Friday. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $431.24. 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 market cap of $62.86 billion, a price-to-earnings ratio of 65.31, a PEG ratio of 2.50 and a beta of 1.04. The business has a 50-day simple moving average of $389.67 and a 200 day simple moving average of $350.08.

Quanta Services (NYSE:PWR - Get Free Report) last issued 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. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the firm earned $1.90 earnings per share. Quanta Services's revenue was up 21.1% on a year-over-year basis. 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 fiscal year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Roth Capital restated a "buy" rating and issued a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. TD Cowen upped their target price on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. increased their price objective on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Quanta Services in a research note on Saturday, September 27th. Finally, UBS Group raised their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and an average price target of $404.27.

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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