Apollon Wealth Management LLC Boosts Holdings in Quanta Services, Inc. $PWR

Key Points

• Apollon Wealth Management LLC has increased its holdings in Quanta Services, Inc. by 18.9%, owning 7,206 shares worth approximately $2.725 million.
• A number of other institutional investors also enhanced their positions in Quanta Services, contributing to institutional ownership of 90.49% of the company's stock.
• Brokerages have updated their ratings for Quanta Services, with TD Cowen raising its price target from $355.00 to $425.00 and maintaining a "buy" rating.

Apollon Wealth Management LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 18.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,206 shares of the construction company's stock after buying an additional 1,147 shares during the quarter. Apollon Wealth Management LLC's holdings in Quanta Services were worth $2,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hemington Wealth Management boosted its holdings in shares of Quanta Services by 69.0% in the second quarter. Hemington Wealth Management now owns 120 shares of the construction company's stock worth $45,000 after buying an additional 49 shares during the last quarter. Natural Investments LLC purchased a new position in shares of Quanta Services in the second quarter worth approximately $259,000. Trust Co. of Toledo NA OH purchased a new position in shares of Quanta Services in the second quarter worth approximately $212,000. Drucker Wealth 3.0 LLC purchased a new position in Quanta Services during the second quarter valued at approximately $229,000. Finally, Eastern Bank lifted its holdings in Quanta Services by 23.5% during the second quarter. Eastern Bank now owns 184 shares of the construction company's stock valued at $70,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on PWR. TD Cowen lifted their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Roth Capital reaffirmed a "buy" rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Seaport Res Ptn raised shares of Quanta Services to a "hold" rating in a report on Thursday, July 10th. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $408.45.

Quanta Services Price Performance

PWR stock opened at $417.15 on Monday. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $443.97. The company's fifty day moving average price is $391.79 and its 200-day moving average price is $356.25. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company has a market capitalization of $62.16 billion, a PE ratio of 64.57, a price-to-earnings-growth ratio of 2.47 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results 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 net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the firm earned $1.90 earnings per share. The company's quarterly revenue 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 analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were paid 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 yield of 0.1%. Quanta Services's dividend payout ratio is presently 6.19%.

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.

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