BNC Wealth Management LLC Purchases 2,691 Shares of Quanta Services, Inc. $PWR

Key Points

• BNC Wealth Management LLC has increased its stake in Quanta Services, Inc. by 19.3%, now holding a total of 16,669 shares valued at approximately $6.3 million.
• Quanta Services recently reported earnings per share of $2.48, exceeding expectations, and highlighted a 21.1% year-over-year revenue growth for the last quarter.
• The company announced a quarterly dividend of $0.10 per share, with the ex-dividend date set for October 1, reflecting a modest 0.1% dividend yield.

BNC Wealth Management LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 19.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,669 shares of the construction company's stock after purchasing an additional 2,691 shares during the period. Quanta Services accounts for 1.9% of BNC Wealth Management LLC's portfolio, making the stock its 15th largest holding. BNC Wealth Management LLC's holdings in Quanta Services were worth $6,302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Wealth Planning Services Inc. raised its position in shares of Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock valued at $242,000 after purchasing an additional 32 shares during the period. Frank Rimerman Advisors LLC grew its stake in Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock valued at $792,000 after acquiring an additional 34 shares in the last quarter. Legacy Capital Wealth Partners LLC grew its stake in Quanta Services by 3.4% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock valued at $277,000 after acquiring an additional 36 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Quanta Services by 2.6% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock valued at $365,000 after acquiring an additional 37 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its stake in shares of Quanta Services by 15.6% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company's stock worth $72,000 after buying an additional 38 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Down 1.6%

Shares of NYSE PWR opened at $389.85 on Wednesday. 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, Inc. has a one year low of $227.08 and a one year high of $424.94. The stock has a market capitalization of $58.09 billion, a PE ratio of 60.35, a P/E/G ratio of 2.35 and a beta of 1.01. The business's fifty day moving average price is $388.14 and its 200-day moving average price is $341.41.

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 for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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 issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services's dividend payout ratio is currently 6.19%.

Analyst Ratings Changes

A number of brokerages have commented on PWR. Northland Securities cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective for the company. in a research note on Wednesday, July 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Roth Capital reaffirmed a "buy" rating and set a $450.00 price target (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a report on Thursday, July 10th. Finally, Stifel Nicolaus lifted their price objective on shares of Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 4th. Twelve analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $401.19.

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.

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.