Ardsley Advisory Partners LP Invests $3.81 Million in Quanta Services, Inc. $PWR

Key Points

• Ardsley Advisory Partners LP has invested approximately $3.81 million in Quanta Services, Inc., purchasing 15,000 shares in the first quarter.
• Analysts have raised their price targets for Quanta Services, with notable upgrades from Goldman Sachs and UBS Group, where the consensus target price is around $392.45.
• Quanta Services recently announced a dividend of $0.10 per share, with the dividend payout ratio currently at 6.19%.

Ardsley Advisory Partners LP acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,000 shares of the construction company's stock, valued at approximately $3,813,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nuveen LLC purchased a new position in Quanta Services in the 1st quarter worth about $404,288,000. GAMMA Investing LLC raised its holdings in Quanta Services by 22,475.0% in the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after acquiring an additional 811,797 shares in the last quarter. Amundi grew 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 last quarter. Bank of America Corp DE raised its stake in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings 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. Institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. TD Cowen lifted their price target on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price target on Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Sanford C. Bernstein downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price for the company. in a research note on Monday, July 28th. BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and boosted their target price for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.18.

Quanta Services Trading Down 0.9%

Shares of NYSE:PWR traded down $3.53 during mid-day 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 company's 50 day moving average is $387.38 and its 200-day moving average is $330.88. 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 cap of $55.52 billion, a PE ratio of 57.67, a P/E/G ratio of 2.21 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly 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. The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations 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 company earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. 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.