Exchange Traded Concepts LLC Boosts Holdings in Quanta Services, Inc. $PWR

Key Points

• Exchange Traded Concepts LLC increased its holdings in Quanta Services by 27.6%, owning 27,755 shares valued at approximately $10.49 million after acquiring an additional 6,003 shares.
• Quanta Services reported earnings per share of $2.48 for the last quarter, exceeding expectations and showing a 21.1% year-over-year revenue growth with total revenue of $6.77 billion.
• The firm declared a quarterly dividend of $0.10 per share, which will be paid on October 10th, representing a dividend yield of 0.1%.

Exchange Traded Concepts LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 27.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,755 shares of the construction company's stock after purchasing an additional 6,003 shares during the period. Exchange Traded Concepts LLC's holdings in Quanta Services were worth $10,494,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new position in shares of Quanta Services in the first quarter worth $25,000. WPG Advisers LLC purchased a new position in shares of Quanta Services in the first quarter worth $31,000. Webster Bank N. A. increased its stake in shares of Quanta Services by 57.8% in the second quarter. Webster Bank N. A. now owns 131 shares of the construction company's stock worth $50,000 after buying an additional 48 shares during the period. AlphaQuest LLC purchased a new position in shares of Quanta Services in the first quarter worth $35,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Quanta Services in the first quarter worth $40,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 0.3%

Shares of PWR stock traded down $1.31 during mid-day trading on Friday, reaching $389.34. 1,493,178 shares of the company's stock traded hands, compared to its average volume of 825,678. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The company has a market cap of $58.02 billion, a P/E ratio of 60.27, a P/E/G ratio of 2.32 and a beta of 1.01. 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 company's 50-day moving average price is $387.90 and its 200-day moving average price is $338.73.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter in the previous year, the business posted $1.90 EPS. The company's quarterly 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. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on PWR. UBS Group lifted their price target on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a report on Friday, July 25th. Sanford C. Bernstein cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a report on Monday, July 28th. Evercore ISI lifted their price target on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Stifel Nicolaus lifted their price target 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. Finally, TD Cowen lifted their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Twelve equities 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, the stock has a consensus rating of "Moderate Buy" and an average 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.