Freedom Day Solutions LLC Acquires Shares of 6,519 Quanta Services, Inc. $PWR

Key Points

• Freedom Day Solutions LLC has acquired 6,519 shares of Quanta Services, Inc. valued at approximately $2.47 million, as disclosed to the SEC.
• Quanta Services announced a quarterly dividend of $0.10, representing an annualized yield of 0.1%, with the payment date set for October 10th.
• The company reported a net revenue increase of 21.1% year-over-year for the latest quarter, achieving earnings of $2.48 per share, above analyst expectations.

Freedom Day Solutions LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,519 shares of the construction company's stock, valued at approximately $2,465,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after buying an additional 407,878 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Quanta Services in the second quarter valued at $650,960,000. Nuveen LLC purchased a new position in Quanta Services in the first quarter valued at $404,288,000. Northern Trust Corp increased its holdings in Quanta Services by 3.8% in the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock valued at $392,839,000 after buying an additional 56,081 shares in the last quarter. Finally, Amundi increased its holdings in Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock valued at $304,139,000 after buying an additional 788,079 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

PWR opened at $429.69 on Friday. The firm has a market capitalization of $64.03 billion, a PE ratio of 66.52, a PEG ratio of 2.63 and a beta of 1.04. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $443.97. The firm's 50-day moving average price is $391.35 and its 200 day moving average price is $353.91. 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 posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. Quanta Services's quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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 issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services's payout ratio is presently 6.19%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PWR. Northland Capmk cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Daiwa America cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Weiss Ratings reissued a "buy (b-)" rating on shares of Quanta Services in a research note on Wednesday. Sanford C. Bernstein cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price for the company. in a research note on Monday, July 28th. Finally, Evercore ISI boosted their target price on shares of Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, 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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