Northeast Investment Management Purchases New Shares in Quanta Services, Inc. $PWR

Key Points

• Northeast Investment Management has acquired 2,524 shares of Quanta Services, Inc., valued at approximately $954,000, as part of its new investment stake disclosed in a Form 13F filing.
• Quanta Services recently reported a 21.1% increase in revenue year-over-year, with earnings per share exceeding analyst expectations at $2.48 for the last quarter.
• The stock currently holds an average rating of "Moderate Buy" from analysts, with a target price of $410.45, along with a recent upgrade from Roth Capital and Truist Financial raising their price objectives.

Northeast Investment Management purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,524 shares of the construction company's stock, valued at approximately $954,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PWR. Brighton Jones LLC purchased a new stake in Quanta Services in the 4th quarter valued at $298,000. Wealth Enhancement Advisory Services LLC raised its position in Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after buying an additional 2,479 shares during the last quarter. Sowell Financial Services LLC bought a new position in Quanta Services in the 1st quarter valued at $442,000. Sagespring Wealth Partners LLC grew its stake in Quanta Services by 19.7% in the 1st quarter. Sagespring Wealth Partners LLC now owns 802 shares of the construction company's stock valued at $206,000 after purchasing an additional 132 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Quanta Services by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 17,292 shares of the construction company's stock valued at $4,395,000 after purchasing an additional 460 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PWR shares. Roth Capital restated a "buy" rating and issued a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Truist Financial upped their price objective on Quanta Services from $472.00 to $521.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Weiss Ratings restated a "buy (b-)" rating on shares of Quanta Services in a research note on Wednesday, October 8th. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Finally, Daiwa America downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Fourteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $410.45.

Quanta Services Stock Performance

NYSE:PWR opened at $434.65 on Friday. The business's 50-day moving average price is $396.43 and its two-hundred day moving average price is $361.71. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $446.60. The stock has a market cap of $64.77 billion, a P/E ratio of 67.28, a PEG ratio of 2.57 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter last year, the firm posted $1.90 EPS. The company's revenue 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. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) 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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