Bayforest Capital Ltd Acquires 1,085 Shares of Quanta Services, Inc. $PWR

Key Points

• Bayforest Capital Ltd significantly increased its holdings in Quanta Services, Inc. by 5,166.7% during Q1, now owning 1,106 shares valued at $281,000.
• Quanta Services reported earnings of $2.48 per share, exceeding analyst expectations, with quarterly revenue up 21.1% year-over-year at $6.77 billion.
• The company declared a quarterly dividend of $0.10 per share, with an annualized yield of 0.1%, payable on October 10th to shareholders of record on October 1st.

Bayforest Capital Ltd raised its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 5,166.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,106 shares of the construction company's stock after buying an additional 1,085 shares during the quarter. Bayforest Capital Ltd's holdings in Quanta Services were worth $281,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SCP Investment LP bought a new stake in Quanta Services in the 1st quarter valued at $966,000. Brighton Jones LLC bought a new stake in Quanta Services in the 4th quarter valued at $298,000. Wealth Enhancement Advisory Services LLC increased its holdings in Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after buying an additional 2,479 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after purchasing an additional 588 shares during the last quarter. Finally, Objectivity Squared LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $213,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of PWR stock opened at $389.94 on Thursday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The firm's 50 day moving average is $387.67 and its 200-day moving average is $332.65. The firm has a market capitalization of $58.10 billion, a price-to-earnings ratio of 60.36, a PEG ratio of 2.22 and a beta of 1.01. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the business earned $1.90 earnings per share. Quanta Services's quarterly 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. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date is 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%.

Wall Street Analyst Weigh In

PWR has been the subject of several analyst reports. UBS Group lifted their price target on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a report on Friday, July 25th. BMO Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. The Goldman Sachs Group reiterated a "buy" rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Finally, Roth Capital restated a "buy" rating and issued a $450.00 target price (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $397.18.

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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