Equitable Trust Co. Takes $244,000 Position in Quanta Services, Inc. $PWR

Key Points

• Equitable Trust Co. has acquired a new stake in Quanta Services, Inc. valued at approximately $244,000, purchasing 646 shares in the second quarter.
• Quanta Services reported earnings of $2.48 per share for the last quarter, surpassing analyst estimates, and experienced a 21.1% year-over-year revenue growth.
• The company's recent dividend was announced at $0.10 per share, leading to an annualized dividend of $0.40 and a dividend yield of 0.1%.

Equitable Trust Co. purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 646 shares of the construction company's stock, valued at approximately $244,000.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Quanta Services during the 2nd quarter valued at approximately $650,960,000. Nuveen LLC acquired a new position in Quanta Services during the 1st quarter valued at approximately $404,288,000. Northern Trust Corp boosted its position in Quanta Services by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock valued at $392,839,000 after purchasing an additional 56,081 shares during the period. Finally, Amundi boosted its position in Quanta Services by 188.3% during the 1st quarter. Amundi now owns 1,206,577 shares of the construction company's stock valued at $304,139,000 after purchasing an additional 788,079 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Up 1.3%

Shares of PWR stock opened at $437.02 on Thursday. 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 1 year low of $227.08 and a 1 year high of $443.97. The stock has a fifty day moving average of $394.45 and a two-hundred day moving average of $358.56. The firm has a market capitalization of $65.12 billion, a PE ratio of 67.65, a price-to-earnings-growth ratio of 2.56 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $6.77 billion during 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 revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on PWR shares. JPMorgan Chase & Co. boosted their price objective on Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. DA Davidson boosted their price objective on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Citigroup boosted their price target on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Fourteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $408.45.

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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