GC Wealth Management RIA LLC Buys 8,232 Shares of Quanta Services, Inc. $PWR

Key Points

• GC Wealth Management RIA LLC increased its stake in Quanta Services, Inc. by 873.9% during Q2, acquiring an additional 8,232 shares for a total of 9,174 shares valued at approximately $3.47 million.
• Major institutional investors such as Vanguard Group and Nuveen LLC have also raised their stakes in Quanta Services, contributing to a total institutional ownership of 90.49%.
• Analysts have given Quanta Services a consensus rating of "Moderate Buy" with an average target price of $404.27, indicating positive forecasts for the company's performance.

GC Wealth Management RIA LLC grew its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 873.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,174 shares of the construction company's stock after acquiring an additional 8,232 shares during the period. GC Wealth Management RIA LLC's holdings in Quanta Services were worth $3,469,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake 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 worth $4,427,129,000 after purchasing an additional 407,878 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Quanta Services in the second quarter worth approximately $650,960,000. Nuveen LLC bought a new position in shares of Quanta Services during the 1st quarter worth $404,288,000. Northern Trust Corp grew its position in shares of Quanta Services by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock worth $392,839,000 after buying an additional 56,081 shares in the last quarter. Finally, Amundi increased its stake in shares of Quanta Services by 188.3% during 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 during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Roth Capital restated a "buy" rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. UBS Group raised their target price on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Citigroup lifted their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a report on Monday, July 28th. Jefferies Financial Group raised shares of Quanta Services from a "hold" rating to a "buy" rating and lifted their price objective for the company from $398.00 to $469.00 in a report on Wednesday, September 24th. Finally, Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target on the stock. in a report on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $404.27.

Quanta Services Stock Up 1.4%

NYSE:PWR opened at $406.00 on Monday. The company has a market cap of $60.50 billion, a PE ratio of 62.85, a P/E/G ratio of 2.41 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, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company's 50 day moving average is $388.49 and its two-hundred day moving average is $345.37.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating 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%. The business's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company 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 $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a 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.

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