Freedom Investment Management Inc. Has $1.31 Million Stock Position in Quanta Services, Inc. $PWR

Key Points

• Freedom Investment Management Inc. reduced its stake in Quanta Services by 22.3%, now holding $1.31 million worth of shares after selling 991 shares during the second quarter.
• Multiple analysts have recently adjusted their price targets for Quanta Services, with TD Cowen raising it to $425.00 and DA Davidson setting it at $395.00, reflecting a generally favorable outlook on the stock.
• Quanta Services reported a 21.1% year-over-year revenue increase in its latest quarter, with earnings per share (EPS) of $2.48, exceeding consensus estimates of $2.44.

Freedom Investment Management Inc. trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 22.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,451 shares of the construction company's stock after selling 991 shares during the period. Freedom Investment Management Inc.'s holdings in Quanta Services were worth $1,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PWR. Brighton Jones LLC acquired a new position in Quanta Services during the fourth quarter valued at $298,000. Asset Management One Co. Ltd. raised its position in Quanta Services by 5.3% during the first quarter. Asset Management One Co. Ltd. now owns 84,751 shares of the construction company's stock valued at $21,542,000 after buying an additional 4,300 shares during the period. Archford Capital Strategies LLC raised its position in Quanta Services by 188.7% during the first quarter. Archford Capital Strategies LLC now owns 3,092 shares of the construction company's stock valued at $786,000 after buying an additional 2,021 shares during the period. Golden State Wealth Management LLC raised its position in Quanta Services by 123.7% during the first quarter. Golden State Wealth Management LLC now owns 1,246 shares of the construction company's stock valued at $317,000 after buying an additional 689 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in Quanta Services by 1,068.4% in the first quarter. Sequoia Financial Advisors LLC now owns 65,781 shares of the construction company's stock valued at $16,720,000 after purchasing an additional 60,151 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on PWR shares. TD Cowen boosted their target price on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. DA Davidson boosted their target price on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and boosted their target price for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Quanta Services in a research note on Wednesday, October 8th. Fourteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $411.59.

Quanta Services Stock Performance

PWR opened at $427.32 on Friday. The company has a market cap of $63.67 billion, a PE ratio of 66.15, a price-to-earnings-growth ratio of 2.44 and a beta of 1.04. The stock has a 50-day moving average of $400.13 and a 200-day moving average of $365.99. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $446.60. 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 (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm's revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Quanta Services Company 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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