NewEdge Advisors LLC Buys 1,736 Shares of Quanta Services, Inc. $PWR

Key Points

• NewEdge Advisors LLC increased its stake in Quanta Services, Inc. by 11.7%, owning a total of 16,606 shares valued at approximately $4.22 million after acquiring an additional 1,736 shares.
• Several institutional investors have recently taken new positions in Quanta Services, with total institutional ownership at 90.49% of the company's stock.
• Quanta Services reported a quarterly EPS of $2.48, exceeding expectations, along with a quarterly revenue of $6.77 billion, which marked a 21.1% increase year-over-year.

NewEdge Advisors LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,606 shares of the construction company's stock after purchasing an additional 1,736 shares during the quarter. NewEdge Advisors LLC's holdings in Quanta Services were worth $4,221,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PWR. Cullen Frost Bankers Inc. acquired a new position in Quanta Services during the first quarter worth $25,000. WPG Advisers LLC bought a new stake in Quanta Services during the first quarter worth $31,000. AlphaQuest LLC bought a new stake in Quanta Services during the first quarter worth $35,000. Zions Bancorporation National Association UT bought a new stake in Quanta Services during the first quarter worth $40,000. Finally, OLD Second National Bank of Aurora bought a new stake in Quanta Services during the first quarter worth $42,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

NYSE:PWR traded down $7.14 during mid-day trading on Friday, reaching $382.50. 833,428 shares of the company's stock were exchanged, compared to its average volume of 807,221. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The firm has a market capitalization of $56.99 billion, a PE ratio of 59.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.01. The business's fifty day simple moving average is $387.66 and its two-hundred day simple moving average is $335.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping 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 analyst estimates of $6.55 billion. During the same period last year, the firm earned $1.90 earnings per share. Quanta Services'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 anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company 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 $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

Analysts Set New Price Targets

Several analysts have issued reports on PWR shares. Seaport Res Ptn raised shares of Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Truist Financial raised 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. DA Davidson raised their target price 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. Piper Sandler restated an "overweight" rating and set a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Finally, Northland Securities cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price for the company. in a research note on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $397.18.

About Quanta Services

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.