Meitav Investment House Ltd. Has $37.83 Million Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Meitav Investment House Ltd. reduced its holdings in Quanta Services, Inc. by 33.3% in the second quarter, now owning approximately 0.07% of the company's stock, valued at about $37.83 million.
• Analysts have a consensus rating of "Moderate Buy" for Quanta Services with an average target price of $404.27, with multiple firms raising their price targets recently.
• Quanta Services announced a quarterly dividend of $0.10 per share, which equates to an annualized yield of 0.1% and a payout ratio of 6.19%.

Meitav Investment House Ltd. decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 33.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the construction company's stock after selling 50,000 shares during the quarter. Meitav Investment House Ltd. owned approximately 0.07% of Quanta Services worth $37,830,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Cullen Frost Bankers Inc. bought a new stake in Quanta Services in the 1st quarter valued at $25,000. SOA Wealth Advisors LLC. boosted its holdings in Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock valued at $26,000 after purchasing an additional 43 shares during the period. WPG Advisers LLC bought a new stake in Quanta Services in the 1st quarter valued at $31,000. Ameriflex Group Inc. boosted its holdings in Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company's stock valued at $32,000 after purchasing an additional 40 shares during the period. Finally, AlphaQuest LLC bought a new position in shares of Quanta Services during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Analysts Set New Price Targets

PWR has been the subject of a number of analyst reports. Roth Capital reaffirmed a "buy" rating and set a $450.00 price objective (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. UBS Group raised their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Stifel Nicolaus raised their price objective on shares of Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 4th. JPMorgan Chase & Co. increased their target price on shares of Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Mizuho assumed 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 for the company. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $404.27.

Quanta Services Stock Up 1.7%

Shares of NYSE:PWR opened at $428.33 on Tuesday. The company has a 50 day moving average of $390.00 and a 200-day moving average of $351.75. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $431.24. The stock has a market cap of $63.83 billion, a price-to-earnings ratio of 66.30, a P/E/G ratio of 2.50 and a beta of 1.04. 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 (NYSE:PWR - Get Free Report) last announced its quarterly earnings results 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 revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share 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 issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, October 1st. 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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