Promethium Advisors LLC Buys New Holdings in Quanta Services, Inc. $PWR

Key Points

• Promethium Advisors LLC acquired a new stake of 2,834 shares, valued at approximately $720,000, in Quanta Services, Inc. during the first quarter.
• Analysts have a consensus rating of Moderate Buy on Quanta Services with an average price target of $392.45, though recent downgrades have also occurred from some firms.
• The company reported a 21.1% increase in revenue year-over-year for its latest quarter, with earnings per share at $2.48, exceeding analyst expectations.

Promethium Advisors LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,834 shares of the construction company's stock, valued at approximately $720,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Banque Transatlantique SA acquired a new stake in Quanta Services in the fourth quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services during the 1st quarter worth approximately $25,000. Quarry LP acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $26,000. WPG Advisers LLC acquired a new stake in Quanta Services in the first quarter valued at $31,000. Finally, AlphaQuest LLC bought a new position in shares of Quanta Services during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PWR. Wall Street Zen downgraded shares of Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday. Seaport Res Ptn raised shares of Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Truist Financial boosted their price target on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Northland Securities lowered 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, Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $392.45.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $378.24 on Tuesday. The stock has a market cap of $56.36 billion, a P/E ratio of 58.55, a P/E/G ratio of 2.24 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The company has a 50 day moving average of $387.61 and a 200 day moving average of $328.76. 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 posted 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. The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 EPS. 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 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services's payout ratio is 6.19%.

Quanta Services 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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