Glenview Trust co Buys 1,397 Shares of Quanta Services, Inc. $PWR

Key Points

• Glenview Trust Co. increased its holdings in Quanta Services, Inc. by 25.2%, acquiring an additional 1,397 shares, bringing its total to 6,949 shares valued at approximately $1,766,000.
• Quanta Services recently announced a quarterly dividend of $0.10 per share, with an annualized yield of 0.1%, indicating a payout ratio of 6.19%.
• Analysts have mixed ratings for Quanta Services, with prices targets ranging from $360.00 to $492.00, reflecting an average rating of "Moderate Buy" among 25 analysts.

Glenview Trust co lifted its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 25.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,949 shares of the construction company's stock after buying an additional 1,397 shares during the period. Glenview Trust co's holdings in Quanta Services were worth $1,766,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PWR. Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services in the first quarter valued at approximately $25,000. WPG Advisers LLC bought a new position in shares of Quanta Services in the first quarter valued at approximately $31,000. AlphaQuest LLC bought a new position in shares of Quanta Services in the first quarter valued at approximately $35,000. Zions Bancorporation National Association UT bought a new position in shares of Quanta Services in the first quarter valued at approximately $40,000. Finally, OLD Second National Bank of Aurora bought a new position in shares of Quanta Services in the first quarter valued at approximately $42,000. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PWR shares. Mizuho started coverage on Quanta Services in a report on Thursday, September 4th. They issued a "neutral" rating and a $360.00 target price for the company. Piper Sandler reiterated an "overweight" rating and issued a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Wall Street Zen downgraded Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Citigroup upped their price objective on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Stifel Nicolaus upped their price objective on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average target price of $397.18.

Quanta Services Trading Up 4.4%

Shares of PWR stock opened at $389.94 on Thursday. The company's fifty day simple moving average is $387.67 and its two-hundred day simple moving average is $332.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The stock has a market capitalization of $58.10 billion, a price-to-earnings ratio of 60.36, a PEG ratio of 2.22 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business 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 firm posted $1.90 EPS. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Quanta Services 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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