Principle Wealth Partners LLC Takes $297,000 Position in Quanta Services, Inc. $PWR

Principle Wealth Partners LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 786 shares of the construction company's stock, valued at approximately $297,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PWR. Cullen Frost Bankers Inc. purchased a new stake in shares of Quanta Services during the 1st quarter valued at $25,000. Copia Wealth Management raised its position in shares of Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company's stock valued at $25,000 after buying an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock valued at $26,000 after buying an additional 43 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of Quanta Services during the 1st quarter valued at $31,000. Finally, Ameriflex Group Inc. raised its position in shares of Quanta Services by 93.0% during the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company's stock valued at $32,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $427.32 on Friday. The firm has a market cap of $63.67 billion, a PE ratio of 66.15, a price-to-earnings-growth ratio of 2.44 and a beta of 1.04. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $446.60. 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 company's fifty day simple moving average is $400.13 and its two-hundred day simple moving average is $365.99.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company's revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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

Analysts Set New Price Targets

PWR has been the topic of a number of analyst reports. Sanford C. Bernstein cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price on the stock. in a research report on Monday, July 28th. TD Cowen lifted their target price on shares of Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Roth Capital reiterated a "buy" rating and issued a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. BMO Capital Markets cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, Mizuho initiated coverage on shares of Quanta Services in a research report on Thursday, September 4th. They issued a "neutral" rating and a $360.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $411.59.

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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