Patton Fund Management Inc. Makes New Investment in Quanta Services, Inc. $PWR

Key Points

• Patton Fund Management Inc. has made a new investment by acquiring 765 shares of Quanta Services, Inc. valued at approximately $289,000.
• Quanta Services reported a quarterly earnings per share (EPS) of $2.48, exceeding analysts' expectations, with a revenue of $6.77 billion for the quarter.
• The firm announced a quarterly dividend of $0.10 per share, with a dividend yield of 0.1%, indicating a low payout ratio of 6.19%.

Patton Fund Management Inc. acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 765 shares of the construction company's stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new position in Quanta Services during the 1st quarter worth about $25,000. WPG Advisers LLC acquired a new position in shares of Quanta Services during the first quarter worth approximately $31,000. AlphaQuest LLC acquired a new position in shares of Quanta Services during the first quarter worth approximately $35,000. Zions Bancorporation National Association UT acquired a new position in Quanta Services during the 1st quarter worth $40,000. Finally, OLD Second National Bank of Aurora acquired a new position in Quanta Services during the 1st quarter worth $42,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $406.00 on Friday. The company has a market capitalization of $60.50 billion, a price-to-earnings ratio of 62.85, a P/E/G ratio of 2.38 and a beta of 1.01. The firm's 50 day simple moving average is $388.49 and its 200 day simple moving average is $344.06. 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, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94.

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. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services's revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is 6.19%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PWR. Jefferies Financial Group raised Quanta Services from a "hold" rating to a "buy" rating and upped their price target for the company from $398.00 to $469.00 in a research note on Wednesday. Evercore ISI upped their target price on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Roth Capital restated a "buy" rating and set a $450.00 target price (up from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Mizuho began coverage on shares of Quanta Services in a report on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price objective on the stock. Finally, BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and increased their price objective for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Quanta Services has an average rating of "Moderate Buy" and a consensus target price of $404.27.

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.

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