Praxis Investment Management Inc. Invests $605,000 in Quanta Services, Inc. $PWR

Key Points

• Praxis Investment Management Inc. invested $605,000 in shares of Quanta Services, Inc., acquiring 1,600 shares during the second quarter.
• Quanta Services reported a quarterly earnings per share of $2.48, exceeding analysts' expectations and indicating a 21.1% revenue increase compared to the same quarter last year.
• The company has announced a quarterly dividend of $0.10 per share, with a $0.40 annualized dividend and a payout ratio of 6.19%.

Praxis Investment Management Inc. purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,600 shares of the construction company's stock, valued at approximately $605,000.

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

Quanta Services Stock Down 0.7%

PWR stock opened at $434.65 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $396.43 and a two-hundred day moving average price of $361.04. The company has a market cap of $64.77 billion, a price-to-earnings ratio of 67.28, a P/E/G ratio of 2.59 and a beta of 1.04. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $446.60.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating 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 firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the company earned $1.90 earnings per share. 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. Analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently issued reports on PWR. TD Cowen increased their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Stifel Nicolaus increased their price objective on Quanta Services from $432.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a report on Thursday, July 10th. Finally, Daiwa America downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Fourteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $410.45.

About Quanta Services

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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