Farther Finance Advisors LLC Has $1.29 Million Position in Quanta Services, Inc. $PWR

Key Points

• Farther Finance Advisors LLC has significantly increased its stake in Quanta Services, now holding shares worth $1.29 million, marking a 117.8% increase in Q2.
• Quanta Services reported quarterly earnings of $2.48 EPS, exceeding estimates by $0.04, with revenue of $6.77 billion showing a year-over-year increase of 21.1%.
• A quarterly dividend of $0.10 per share is scheduled for payment on October 10th, representing an annual yield of 0.1% and a payout ratio of 6.19%.

Farther Finance Advisors LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 117.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,415 shares of the construction company's stock after purchasing an additional 1,847 shares during the period. Farther Finance Advisors LLC's holdings in Quanta Services were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. raised its holdings in Quanta Services by 3.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock valued at $242,000 after acquiring an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC raised its holdings in Quanta Services by 1.1% in the 1st 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 raised its holdings in Quanta Services by 3.4% in the 1st 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 raised its holdings in Quanta Services by 2.6% in the 1st 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 raised its holdings in 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 valued at $72,000 after acquiring an additional 38 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Down 1.6%

NYSE PWR opened at $389.85 on Wednesday. The business's 50-day moving average price is $388.14 and its two-hundred day moving average price is $341.41. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The firm has a market capitalization of $58.09 billion, a PE ratio of 60.35, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly 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 return on equity of 18.41% and a net margin of 3.73%.The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the company posted $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. On average, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be given a dividend of $0.10 per share. 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 is presently 6.19%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PWR. Sanford C. Bernstein lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a research note on Monday, July 28th. DA Davidson lifted their price target on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Mizuho began coverage on Quanta Services in a research note on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price target on the stock. Wall Street Zen lowered Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, UBS Group boosted their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Twelve investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Quanta Services currently has an average 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.

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