Quanta Services, Inc. $PWR Shares Bought by TruWealth Advisors LLC

Key Points

• TruWealth Advisors LLC increased its holdings in Quanta Services, Inc. by 2.7% during the 2nd quarter, owning 50,799 shares worth approximately $19.2 million.
• A significant majority of the company's stock, 90.49%, is held by institutional investors, with notable stakes increased by firms such as Vanguard Group and Amundi.
• Analysts have a consensus rating of "Moderate Buy" for Quanta Services, with price targets ranging as high as $472 from various brokerages.

TruWealth Advisors LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,799 shares of the construction company's stock after acquiring an additional 1,314 shares during the quarter. TruWealth Advisors LLC's holdings in Quanta Services were worth $19,206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after acquiring an additional 407,878 shares during the last quarter. Nuveen LLC acquired a new stake in Quanta Services during the first quarter worth $404,288,000. Northern Trust Corp increased its stake in Quanta Services by 3.8% during the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock worth $392,839,000 after acquiring an additional 56,081 shares during the last quarter. Amundi grew its stake in shares of Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock valued at $304,139,000 after buying an additional 788,079 shares in the last quarter. Finally, Swedbank AB grew its stake 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 buying an additional 401,418 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PWR. TD Cowen lifted their price objective on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Mizuho began coverage on Quanta Services in a research note on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price objective for the company. Roth Capital reaffirmed a "buy" rating and issued a $450.00 price objective (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Piper Sandler reaffirmed an "overweight" rating and issued a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Finally, Truist Financial lifted their price objective on Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $397.18.

Quanta Services Trading Down 1.8%

NYSE:PWR opened at $382.50 on Friday. The firm has a market cap of $57.00 billion, a PE ratio of 59.21, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. The stock has a fifty day moving average price of $387.66 and a 200 day moving average price of $334.82. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. 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 released its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services's revenue was up 21.1% compared to the same quarter last year. During the same period last year, the business posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be issued 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 is Wednesday, October 1st. Quanta Services's payout ratio 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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