Phoenix Financial Ltd. Takes $2.51 Million Position in Quanta Services, Inc. $PWR

Key Points

• Phoenix Financial Ltd. has acquired a stake in Quanta Services, Inc., purchasing 6,723 shares valued at $2.51 million during the second quarter.
• Quanta Services reported a quarterly EPS of $2.48, exceeding analysts' expectations and marking a 21.1% increase in revenue year-over-year.
• The stock has a current market capitalization of $65.16 billion and an average price target of $411.59 according to current investor ratings.

Phoenix Financial Ltd. bought a new stake 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 SEC. The firm bought 6,723 shares of the construction company's stock, valued at approximately $2,511,000.

A number of other institutional investors also recently modified their holdings of the business. Old Port Advisors boosted its stake in Quanta Services by 0.7% during the second quarter. Old Port Advisors now owns 3,944 shares of the construction company's stock valued at $1,491,000 after buying an additional 26 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its stake in Quanta Services by 3.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock worth $242,000 after purchasing an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC increased its holdings in Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock valued at $792,000 after buying an additional 34 shares during the period. Eastern Bank lifted its stake in shares of Quanta Services by 23.5% during the second quarter. Eastern Bank now owns 184 shares of the construction company's stock worth $70,000 after buying an additional 35 shares during the period. Finally, Legacy Capital Wealth Partners LLC raised its position in shares of Quanta Services by 3.4% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock worth $277,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $437.30 on Wednesday. The stock has a market capitalization of $65.16 billion, a P/E ratio of 67.69, a P/E/G ratio of 2.61 and a beta of 1.04. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $446.60. The business has a 50-day moving average price of $398.49 and a two-hundred day moving average price of $364.40. 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 (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (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 company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter in the prior year, the business posted $1.90 EPS. The business'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. Equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PWR shares. Mizuho initiated coverage on shares of Quanta Services in a report on Thursday, September 4th. They set a "neutral" rating and a $360.00 price objective on the stock. 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 note on Friday, August 8th. Northland Capmk downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Wall Street Zen cut shares of Quanta Services from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Finally, UBS Group increased their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $411.59.

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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