Cinctive Capital Management LP Buys 3,087 Shares of Quanta Services, Inc. $PWR

Key Points

• Cinctive Capital Management LP purchased an additional 3,087 shares of Quanta Services, increasing its holdings by 16.1% to a total of 22,307 shares, valued at $5.67 million.
• Quanta Services reported a quarterly earnings per share (EPS) of $2.48, surpassing analyst expectations, with a revenue of $6.77 billion, reflecting a year-over-year revenue increase of 21.1%.
• Analysts have a "Moderate Buy" rating for Quanta Services, with price target estimates varying, the highest being $450.00 from Roth Capital.

Cinctive Capital Management LP increased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 16.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,307 shares of the construction company's stock after purchasing an additional 3,087 shares during the quarter. Cinctive Capital Management LP's holdings in Quanta Services were worth $5,670,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PWR. Cullen Frost Bankers Inc. bought a new stake in shares of Quanta Services during the 1st quarter worth about $25,000. WPG Advisers LLC bought a new stake in shares of Quanta Services during the 1st quarter worth about $31,000. AlphaQuest LLC bought a new stake in shares of Quanta Services during the 1st quarter worth about $35,000. Zions Bancorporation National Association UT bought a new stake in shares of Quanta Services during the 1st quarter worth about $40,000. Finally, OLD Second National Bank of Aurora bought a new stake in shares of Quanta Services during the 1st quarter worth about $42,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

Shares of NYSE PWR traded down $3.53 during midday trading on Friday, reaching $372.56. 1,128,430 shares of the company were exchanged, compared to its average volume of 846,491. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The stock has a market cap of $55.52 billion, a P/E ratio of 57.67, a PEG ratio of 2.21 and a beta of 1.01. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The stock's 50-day moving average price is $387.38 and its 200-day moving average price is $330.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business's quarterly revenue was up 21.1% on a year-over-year basis. During the same period last 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 anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company 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 $0.10 dividend. 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 (DPR) is currently 6.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Mizuho assumed coverage on shares of Quanta Services in a research report on Thursday. They set a "neutral" rating and a $360.00 price target on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $370.00 target price (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Daiwa America cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Sanford C. Bernstein cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price on the stock. in a report on Monday, July 28th. Finally, Seaport Res Ptn raised shares of Quanta Services to a "hold" rating in a report on Thursday, July 10th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $397.18.

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.