Nicola Wealth Management LTD. Grows Stock Position in Quanta Services, Inc. $PWR

Key Points

• Nicola Wealth Management LTD. increased its stake in Quanta Services by 18.8%, owning a total of 9,500 shares valued at approximately $2.4 million.
• The company reported $2.48 earnings per share for the last quarter, surpassing expectations, with revenue reaching $6.77 billion, a 21.1% increase compared to the previous year.
• Quanta Services will pay a $0.10 quarterly dividend on October 10th, with an annualized dividend yield of 0.1%.

Nicola Wealth Management LTD. raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 18.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,500 shares of the construction company's stock after buying an additional 1,500 shares during the quarter. Nicola Wealth Management LTD.'s holdings in Quanta Services were worth $2,415,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PWR. Brighton Jones LLC purchased a new stake in Quanta Services in the 4th quarter valued at $298,000. NorthRock Partners LLC lifted its stake in shares of Quanta Services by 147.5% in the 4th quarter. NorthRock Partners LLC now owns 1,995 shares of the construction company's stock valued at $631,000 after purchasing an additional 1,189 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Quanta Services in the 4th quarter valued at $5,368,000. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Quanta Services by 36.4% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 24,043 shares of the construction company's stock valued at $7,769,000 after purchasing an additional 6,417 shares during the last quarter. Finally, Mufg Securities Americas Inc. acquired a new position in shares of Quanta Services in the 4th quarter valued at $689,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Down 1.8%

Shares of Quanta Services stock traded down $7.14 on Friday, reaching $382.50. 833,428 shares of the company were exchanged, compared to its average volume of 807,221. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94. The company has a market cap of $56.99 billion, a P/E ratio of 59.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The stock's 50 day moving average price is $387.66 and its 200-day moving average price is $335.35.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data 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 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 the consensus estimate of $6.55 billion. During the same period in the previous year, the company posted $1.90 earnings per share. The business's revenue for the quarter 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, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed 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 is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's payout ratio is currently 6.19%.

Analyst Ratings Changes

PWR has been the topic of several recent analyst reports. TD Cowen upped their price target on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Sanford C. Bernstein lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a research note on Monday, July 28th. Stifel Nicolaus upped their price target on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Wall Street Zen lowered Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and an average target price of $397.18.

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.