Twin Tree Management LP Purchases 45,398 Shares of Quanta Services, Inc. $PWR

Key Points

• Twin Tree Management LP has increased its stake in Quanta Services, Inc. by 155.5% during Q1, now holding approximately 0.05% of the company valued at $18.96 million.
• Quanta Services reported earnings per share of $2.48 for Q2, surpassing estimates of $2.44, with a revenue of $6.77 billion, up 21.1% year-over-year.
• The company declared a quarterly dividend of $0.10 per share with an ex-dividend date of October 1st, representing an annualized yield of 0.1%.

Twin Tree Management LP lifted its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 155.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,599 shares of the construction company's stock after buying an additional 45,398 shares during the period. Twin Tree Management LP owned approximately 0.05% of Quanta Services worth $18,962,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SCP Investment LP purchased a new position in shares of Quanta Services in the 1st quarter worth approximately $966,000. Brighton Jones LLC purchased a new position in Quanta Services in the fourth quarter valued at approximately $298,000. Wealth Enhancement Advisory Services LLC lifted its stake 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 purchasing an additional 2,479 shares during the last quarter. Farther Finance Advisors LLC lifted its stake 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 purchasing an additional 588 shares during the last quarter. Finally, Objectivity Squared LLC purchased a new position in Quanta Services in the first quarter valued at approximately $213,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on PWR. Wall Street Zen downgraded Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Daiwa America downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Piper Sandler restated an "overweight" rating and set a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Finally, Mizuho started coverage on Quanta Services in a research report on Thursday. They set a "neutral" rating and a $360.00 target price on the stock. Thirteen equities research 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $397.18.

Quanta Services Price Performance

Shares of Quanta Services stock traded up $3.26 during trading on Thursday, hitting $377.67. The stock had a trading volume of 360,231 shares, compared to its average volume of 1,372,916. The firm has a market cap of $56.28 billion, a price-to-earnings ratio of 58.46, 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 business's 50-day moving average is $387.65 and its 200 day moving average is $329.39. 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 quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.04. The firm 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 firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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 paid a $0.10 dividend. 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 dividend payout ratio is currently 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.