Pegasus Asset Management Inc. Buys Shares of 13,844 Quanta Services, Inc. $PWR

Key Points

• Pegasus Asset Management Inc. acquired a stake of 13,844 shares in Quanta Services, Inc., valued at approximately $5.2 million, making it the 20th largest position in their portfolio.
• Quanta Services reported a quarterly EPS of $2.48, beating estimates and achieving a 21.1% year-over-year revenue growth with $6.77 billion in revenue.
• Recent analyst activity indicates a consensus rating of "Moderate Buy" for Quanta Services, with fourteen analysts issuing a Buy rating and an average target price of $408.45.

Pegasus Asset Management Inc. bought a new stake in shares of 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. The firm bought 13,844 shares of the construction company's stock, valued at approximately $5,234,000. Quanta Services accounts for about 1.8% of Pegasus Asset Management Inc.'s investment portfolio, making the stock its 20th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of Quanta Services by 150.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company's stock worth $156,026,000 after buying an additional 251,845 shares during the last quarter. Alta Advisers Ltd purchased a new position in shares of Quanta Services in the 2nd quarter worth approximately $263,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Quanta Services by 29.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,603 shares of the construction company's stock worth $8,169,000 after buying an additional 4,863 shares during the last quarter. Oak Ridge Investments LLC grew its position in shares of Quanta Services by 1.6% in the 2nd quarter. Oak Ridge Investments LLC now owns 21,882 shares of the construction company's stock worth $8,273,000 after buying an additional 348 shares during the last quarter. Finally, Cerro Pacific Wealth Advisors LLC grew its position in shares of Quanta Services by 24.1% in the 2nd quarter. Cerro Pacific Wealth Advisors LLC now owns 799 shares of the construction company's stock worth $302,000 after buying an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $417.15 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $443.97. The company has a 50 day simple moving average of $391.79 and a two-hundred day simple moving average of $356.25. The stock has a market cap of $62.16 billion, a price-to-earnings ratio of 64.57, a PEG ratio of 2.47 and a beta of 1.04.

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, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $6.55 billion. During the same period in the previous year, the business posted $1.90 EPS. The business's quarterly 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, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services's payout ratio is presently 6.19%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PWR shares. DA Davidson lifted their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wall Street Zen downgraded shares of Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Jefferies Financial Group raised shares of Quanta Services from a "hold" rating to a "buy" rating and boosted their target price for the stock from $398.00 to $469.00 in a research report on Wednesday, September 24th. Northland Securities downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price on the stock. in a research report on Wednesday, July 2nd. Finally, UBS Group boosted their target price on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $408.45.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.