Ewa LLC Buys New Stake in Quanta Services, Inc. $PWR

Key Points

• Ewa LLC acquired a new stake in Quanta Services, purchasing 643 shares valued at approximately $243,000 during the second quarter.
• Quanta Services reported a 21.1% year-over-year revenue increase for the quarter, totaling $6.77 billion, and an EPS of $2.48, surpassing analysts' expectations.
• The company has announced a quarterly dividend of $0.10 per share, representing a dividend yield of 0.1%, payable on October 10th.

Ewa LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 643 shares of the construction company's stock, valued at approximately $243,000.

A number of other hedge funds have also recently modified their holdings of PWR. Kingstone Capital Partners Texas LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at $650,960,000. Nuveen LLC purchased a new position in Quanta Services during the 1st quarter worth $404,288,000. Amundi grew 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 worth $304,139,000 after purchasing an additional 788,079 shares during the last quarter. Jennison Associates LLC grew its position in Quanta Services by 433.3% during the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock worth $157,839,000 after purchasing an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. grew 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 worth $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 1.6%

PWR stock opened at $421.01 on Thursday. 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 $62.73 billion, a PE ratio of 65.17, a price-to-earnings-growth ratio of 2.46 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company has a fifty day moving average of $389.41 and a 200-day moving average of $347.39.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter last year, the business earned $1.90 EPS. The business's 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. As a group, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be paid a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is 6.19%.

Analysts Set New Price Targets

PWR has been the topic of several research reports. Truist Financial raised their price objective on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Jefferies Financial Group raised shares of Quanta Services from a "hold" rating to a "buy" rating and raised their price objective for the stock from $398.00 to $469.00 in a research report on Wednesday, September 24th. Sanford C. Bernstein downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective on the stock. in a research report on Monday, July 28th. Citigroup raised their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Wall Street Zen cut shares of Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $404.27.

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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