GAMMA Investing LLC Grows Stake in Quanta Services, Inc. $PWR

Key Points

• GAMMA Investing LLC increased its stake in Quanta Services, Inc. by 25.8%, bringing their total ownership to 4,035 shares valued at approximately $1.526 million.
• Quanta Services recently announced a quarterly dividend of $0.10 per share, with a dividend yield of 0.1% and a payout ratio of 6.19%.
• Analysts provide a consensus rating of 'Moderate Buy' for Quanta Services, with an average price target of $401.19 following a series of upgrades from various research firms.

GAMMA Investing LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 25.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,035 shares of the construction company's stock after buying an additional 827 shares during the period. GAMMA Investing LLC's holdings in Quanta Services were worth $1,526,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new stake in shares of Quanta Services during the 1st quarter valued at about $25,000. WPG Advisers LLC bought a new stake in Quanta Services during the first quarter valued at approximately $31,000. Webster Bank N. A. grew its stake in Quanta Services by 57.8% in the 2nd quarter. Webster Bank N. A. now owns 131 shares of the construction company's stock worth $50,000 after buying an additional 48 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Quanta Services in the 1st quarter worth $35,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Quanta Services during the 1st quarter valued at $40,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Roth Capital reiterated a "buy" rating and issued a $450.00 target price (up from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Stifel Nicolaus upped their price objective on Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Evercore ISI raised their price objective on Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Twelve equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $401.19.

Quanta Services Stock Up 2.0%

Shares of NYSE PWR opened at $396.24 on Tuesday. The firm has a fifty day simple moving average of $388.08 and a two-hundred day simple moving average of $341.07. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $59.04 billion, a PE ratio of 61.34, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter in the previous year, the company earned $1.90 earnings per share. Quanta Services'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. Equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend 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 currently 6.19%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.