Aspen Investment Management Inc Has $777,000 Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Aspen Investment Management Inc increased its stake in Quanta Services by 84.8% during the first quarter, holding a total of 3,056 shares valued at approximately $777,000.
• The construction company reported a quarterly earnings of $2.48 per share, surpassing analysts' estimates, and its revenue was up 21.1% year-over-year at $6.77 billion.
• Quanta Services announced a dividend of $0.10 per share, which will be paid on October 10th, translating to an annualized dividend yield of 0.1%.

Aspen Investment Management Inc increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 84.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,056 shares of the construction company's stock after purchasing an additional 1,402 shares during the quarter. Aspen Investment Management Inc's holdings in Quanta Services were worth $777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. Nuveen LLC bought a new stake in shares of Quanta Services in the 1st quarter worth approximately $404,288,000. GAMMA Investing LLC raised its holdings in shares of Quanta Services by 22,475.0% during 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 during the period. Amundi raised its holdings in shares of Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock valued at $304,139,000 after acquiring an additional 788,079 shares during the period. Jennison Associates LLC raised its holdings in shares of Quanta Services by 433.3% during the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after acquiring an additional 504,540 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after acquiring an additional 407,878 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent analyst reports. Sanford C. Bernstein lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a report on Monday, July 28th. 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. Evercore ISI boosted their price target on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Northland Securities downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a research report on Wednesday, July 2nd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and an average target price of $397.18.

Quanta Services Stock Performance

Shares of Quanta Services stock traded up $2.62 on Monday, reaching $385.15. The stock had a trading volume of 299,785 shares, compared to its average volume of 1,355,806. The business's 50-day moving average price is $387.66 and its two-hundred day moving average price is $335.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The stock has a market cap of $57.39 billion, a P/E ratio of 59.62, a price-to-earnings-growth ratio of 2.27 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The business 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 for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently announced 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 yield of 0.1%. The ex-dividend date 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.