Kingstone Capital Partners Texas LLC Invests $650.96 Million in Quanta Services, Inc. $PWR

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new position in Quanta Services, purchasing 1,721,752 shares valued at approximately $650.96 million, which represents about 1.16% of the company.
• Quanta Services reported $2.48 earnings per share (EPS) for the last quarter, exceeding analysts' expectations and demonstrating a 21.1% increase in revenue compared to the prior year.
• The company has announced a quarterly dividend of $0.10 per share, with a 0.1% yield and an upcoming ex-dividend date on October 1st.

Kingstone Capital Partners Texas LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,721,752 shares of the construction company's stock, valued at approximately $650,960,000. Kingstone Capital Partners Texas LLC owned 1.16% of Quanta Services at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC bought a new stake in Quanta Services during the 4th quarter valued at about $298,000. Vident Advisory LLC raised its position in shares of Quanta Services by 10.2% in the fourth quarter. Vident Advisory LLC now owns 3,385 shares of the construction company's stock valued at $1,070,000 after buying an additional 312 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $2,802,000. Waverly Advisors LLC purchased a new position in Quanta Services during the fourth quarter worth about $345,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Quanta Services by 7.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock valued at $361,256,000 after purchasing an additional 82,981 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Quanta Services stock traded up $7.66 during trading hours on Monday, reaching $396.24. 812,012 shares of the company were exchanged, compared to its average volume of 1,349,715. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The firm has a market cap of $59.04 billion, a price-to-earnings ratio of 61.34, a PEG ratio of 2.31 and a beta of 1.01. The stock has a 50-day moving average of $387.90 and a 200 day moving average of $340.01. 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 (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 return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the company posted $1.90 earnings per share. Quanta Services's 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. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PWR. DA Davidson lifted their target price on shares of Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Mizuho initiated coverage on shares of Quanta Services in a research report on Thursday, September 4th. They set a "neutral" rating and a $360.00 target price on the stock. UBS Group boosted their target price on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Sanford C. Bernstein lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price on the stock. in a research report on Monday, July 28th. Twelve research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and an average target price of $401.19.

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.