Sequoia Financial Advisors LLC Acquires 29,168 Shares of Quanta Services, Inc. $PWR

Key Points

• Sequoia Financial Advisors LLC increased its holdings in Quanta Services by 44.3%, acquiring an additional 29,168 shares, bringing its total to 94,949 shares valued at approximately $35.9 million.
• Quanta Services reported $2.48 earnings per share for the last quarter, surpassing analyst estimates and showing a 21.1% revenue increase year-over-year.
• The company has recently disclosed a quarterly dividend of $0.10 per share, resulting in an annualized yield of 0.1%.

Sequoia Financial Advisors LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 44.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,949 shares of the construction company's stock after acquiring an additional 29,168 shares during the period. Sequoia Financial Advisors LLC owned approximately 0.06% of Quanta Services worth $35,898,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pegasus Asset Management Inc. bought a new stake in Quanta Services in the 2nd quarter valued at about $5,234,000. Allspring Global Investments Holdings LLC increased its position in Quanta Services by 150.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company's stock valued at $156,026,000 after buying an additional 251,845 shares in the last quarter. Alta Advisers Ltd bought a new stake in Quanta Services in the 2nd quarter valued at about $263,000. Vanguard Personalized Indexing Management LLC increased its position in Quanta Services by 29.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,603 shares of the construction company's stock valued at $8,169,000 after buying an additional 4,863 shares in the last quarter. Finally, Oak Ridge Investments LLC increased its position in Quanta Services by 1.6% in the 2nd quarter. Oak Ridge Investments LLC now owns 21,882 shares of the construction company's stock valued at $8,273,000 after buying an additional 348 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

Shares of NYSE PWR opened at $417.15 on Monday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $443.97. The stock's 50 day moving average price is $391.79 and its 200-day moving average price is $356.25. The company has a market capitalization of $62.16 billion, a PE ratio of 64.57, a PEG ratio of 2.47 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

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

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were paid a $0.10 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services's dividend payout ratio is presently 6.19%.

Analysts Set New Price Targets

A number of brokerages recently commented on PWR. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and boosted their target price for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Truist Financial lifted their price target on Quanta Services from $472.00 to $521.00 and gave the company a "buy" rating in a research note on Wednesday. Stifel Nicolaus lifted their price target on Quanta Services from $432.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday. Roth Capital reiterated a "buy" rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Finally, Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Fourteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average target price of $408.45.

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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