Hudson Valley Investment Advisors Inc. ADV Raises Position in Quanta Services, Inc. $PWR

Key Points

• Hudson Valley Investment Advisors Inc. increased its holdings in Quanta Services, Inc. by 45.9% during Q2, now owning 13,813 shares valued at $5,222,000.
• Multiple analysts have upgraded their price targets for Quanta Services, with ratings predominantly being "buy," and a consensus price target now set at $404.27.
• Quanta Services reported Q2 earnings of $2.48 EPS, exceeding expectations and showcasing a revenue growth of 21.1% compared to the previous year.

Hudson Valley Investment Advisors Inc. ADV grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 45.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,813 shares of the construction company's stock after purchasing an additional 4,344 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV's holdings in Quanta Services were worth $5,222,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Old Port Advisors grew its stake in shares of Quanta Services by 0.7% in the second quarter. Old Port Advisors now owns 3,944 shares of the construction company's stock worth $1,491,000 after acquiring an additional 26 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock worth $242,000 after purchasing an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of Quanta Services by 1.1% during the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock worth $792,000 after purchasing an additional 34 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its position in Quanta Services by 3.4% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock valued at $277,000 after acquiring an additional 36 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its position in Quanta Services by 2.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock valued at $365,000 after acquiring an additional 37 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWR has been the subject of a number of research reports. Roth Capital reaffirmed a "buy" rating and issued a $450.00 target price (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Stifel Nicolaus upped their price target on shares of Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 4th. TD Cowen upped their price objective on shares of Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Truist Financial upped their price objective on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, DA Davidson increased their price target on shares of Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Fourteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $404.27.

Quanta Services Stock Performance

NYSE:PWR opened at $421.88 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The company has a market cap of $62.86 billion, a P/E ratio of 65.31, a P/E/G ratio of 2.50 and a beta of 1.04. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $431.24. The firm's 50 day moving average is $389.67 and its two-hundred day moving average is $349.54.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 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 the consensus estimate of $6.55 billion. During the same quarter last 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. Analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors 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 dividend payout ratio is currently 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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