Shell Asset Management Co. Acquires 1,699 Shares of Quanta Services, Inc. $PWR

Key Points

• Shell Asset Management Co. increased its holdings in Quanta Services by 67.6% during Q2, acquiring an additional 1,699 shares, bringing their total to 4,212 shares valued at approximately $1.59 million.
• Quanta Services reported $6.77 billion in revenue for the latest quarter, exceeding analyst estimates, and a year-over-year earnings increase of 21.1%.
• The company declared a quarterly dividend of $0.10 per share, with an annual yield of 0.1%, to be paid on October 10th to shareholders of record on October 1st.

Shell Asset Management Co. raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 67.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,212 shares of the construction company's stock after acquiring an additional 1,699 shares during the quarter. Shell Asset Management Co.'s holdings in Quanta Services were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new stake in Quanta Services during the 1st quarter valued at $25,000. SOA Wealth Advisors LLC. raised its holdings in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock valued at $26,000 after acquiring an additional 43 shares during the period. WPG Advisers LLC bought a new position in shares of Quanta Services in the first quarter worth $31,000. Ameriflex Group Inc. increased its holdings in shares of Quanta Services by 93.0% in the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company's stock worth $32,000 after purchasing an additional 40 shares during the period. Finally, AlphaQuest LLC bought a new position in shares of Quanta Services in the first quarter worth $35,000. Institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

PWR has been the topic of several research analyst reports. Mizuho initiated coverage on shares of Quanta Services in a report on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price target on the stock. Citigroup upped their price target on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Truist Financial upped their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a "buy" rating in a report on Wednesday. DA Davidson upped their price target on shares of Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, Stifel Nicolaus upped their price target on shares of Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $406.50.

Quanta Services Stock Performance

NYSE PWR opened at $443.56 on Thursday. The company has a 50-day simple moving average of $390.85 and a two-hundred day simple moving average of $352.87. 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, Inc. has a 12-month low of $227.08 and a 12-month high of $443.97. The firm has a market cap of $66.09 billion, a price-to-earnings ratio of 68.66, a PEG ratio of 2.50 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the business posted $1.90 earnings per share. The company's revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current 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 given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services's dividend payout ratio is presently 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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