Belpointe Asset Management LLC Purchases Shares of 638 Quanta Services, Inc. $PWR

Key Points

• Belpointe Asset Management LLC acquired a new stake in Quanta Services, Inc. by purchasing 638 shares valued at approximately $241,000.
• Analysts show mixed sentiments with Quanta Services stock, reflecting a shift in ratings; it has been downgraded by Wall Street Zen from "buy" to "hold," while TD Cowen increased its price target from $355.00 to $425.00.
• Quanta Services reported a quarterly earnings per share of $2.48, surpassing estimates, and declared a quarterly dividend of $0.10 per share, representing a 0.1% dividend yield.

Belpointe Asset Management LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 638 shares of the construction company's stock, valued at approximately $241,000.

A number of other large investors have also made changes to their positions in PWR. Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services during the 1st quarter valued at approximately $25,000. SOA Wealth Advisors LLC. grew its stake in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock valued at $26,000 after acquiring an additional 43 shares during the period. WPG Advisers LLC bought a new position in shares of Quanta Services during the 1st quarter valued at approximately $31,000. Ameriflex Group Inc. grew its stake in shares of Quanta Services by 93.0% during the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company's stock valued at $32,000 after acquiring an additional 40 shares during the period. Finally, AlphaQuest LLC bought a new position in shares of Quanta Services during the 1st quarter valued at approximately $35,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PWR shares. Wall Street Zen downgraded Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. TD Cowen boosted their price objective on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Sanford C. Bernstein downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a research note on Monday, July 28th. Evercore ISI upped their price target on Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $408.45.

Quanta Services Stock Down 3.0%

Shares of PWR opened at $417.15 on Friday. The stock has a market capitalization of $62.16 billion, a price-to-earnings ratio of 64.57, a price-to-earnings-growth ratio of 2.47 and a beta of 1.04. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $443.97. The business's 50 day simple moving average is $391.79 and its 200-day simple moving average is $355.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. Quanta Services'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. As a group, equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services's dividend payout ratio is presently 6.19%.

Quanta Services 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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