Quanta Services, Inc. $PWR is AMI Asset Management Corp's 6th Largest Position

Key Points

• AMI Asset Management Corp reduced its stake in Quanta Services by 5.5%, now holding approximately 207,587 shares, which represents about 4.5% of their portfolio, making it their 6th largest position.
• Several research firms have raised their price targets for Quanta Services, with TD Cowen increasing its target from $355 to $425 and Roth Capital raising theirs from $350 to $450, maintaining a "buy" rating.
• Quanta Services reported a 21.1% year-over-year increase in revenue for the last quarter, totaling $6.77 billion, with earnings per share exceeding estimates by $0.04.

AMI Asset Management Corp decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,587 shares of the construction company's stock after selling 12,054 shares during the quarter. Quanta Services comprises about 4.5% of AMI Asset Management Corp's portfolio, making the stock its 6th biggest holding. AMI Asset Management Corp owned approximately 0.14% of Quanta Services worth $78,485,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PWR. SCP Investment LP purchased a new stake in shares of Quanta Services in the first quarter valued at about $966,000. Brighton Jones LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $298,000. Swedbank AB grew its holdings in shares of Quanta Services by 50.5% in the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company's stock valued at $304,269,000 after purchasing an additional 401,418 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Quanta Services by 3.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after buying an additional 2,479 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Quanta Services by 60.0% in the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after buying an additional 588 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. TD Cowen upped their target price on shares of Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Roth Capital reaffirmed 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. Stifel Nicolaus upped their target price on shares of Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 4th. BMO Capital Markets cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and upped their target price for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and a consensus price target of $404.27.

Quanta Services Stock Up 1.6%

Shares of PWR opened at $421.01 on Thursday. The stock has a market capitalization of $62.73 billion, a PE ratio of 65.17, a P/E/G ratio of 2.46 and a beta of 1.04. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company's 50-day simple moving average is $389.41 and its 200-day simple moving average is $347.39.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business's quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

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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