Mariner Investment Group LLC Takes Position in Quanta Services, Inc. $PWR

Key Points

• Mariner Investment Group LLC has acquired a new stake in Quanta Services, purchasing 6,000 shares valued at approximately $2.27 million, making it the firm's 16th largest holding.
• Quanta Services reported a 21.1% year-over-year increase in revenue for the quarter, totaling $6.77 billion, and earnings per share of $2.48, exceeding analysts' expectations.
• The company's quarterly dividend of $0.10 per share will be paid on October 10th, representing an annualized yield of 0.1% with a payout ratio of 6.19%.

Mariner Investment Group LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,000 shares of the construction company's stock, valued at approximately $2,268,000. Quanta Services comprises 0.8% of Mariner Investment Group LLC's holdings, making the stock its 16th largest holding.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Quanta Services in the second quarter valued at about $650,960,000. Nuveen LLC purchased a new stake in shares of Quanta Services in the first quarter valued at about $404,288,000. Northern Trust Corp grew its holdings in shares of Quanta Services by 3.8% in the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock valued at $392,839,000 after purchasing an additional 56,081 shares during the period. Finally, Amundi grew its holdings in shares of Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock valued at $304,139,000 after purchasing an additional 788,079 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 1.4%

Shares of PWR opened at $406.00 on Friday. The stock has a market capitalization of $60.50 billion, a PE ratio of 62.85, a P/E/G ratio of 2.38 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company's 50-day simple moving average is $388.49 and its 200-day simple moving average is $344.06.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared 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. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services's payout ratio is 6.19%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PWR. Stifel Nicolaus upped their price objective 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. Truist Financial increased their target price on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and increased their target price for the stock from $352.00 to $400.00 in a research note on Thursday, July 17th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Finally, Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Thirteen equities 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $404.27.

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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