Sound Income Strategies LLC Buys 972 Shares of Quanta Services, Inc. $PWR

Key Points

• Sound Income Strategies LLC increased its stake in Quanta Services, Inc. by 525.4%, acquiring an additional 972 shares and bringing its total holdings to 1,157 shares worth $437,000.
• Quanta Services reported $2.48 earnings per share for the last quarter, exceeding analysts' expectations, and its revenue increased 21.1% year-over-year to $6.77 billion.
• The company declared a quarterly dividend of $0.10 per share, representing a 0.1% dividend yield, with an upcoming payment date on October 10th.

Sound Income Strategies LLC lifted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 525.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,157 shares of the construction company's stock after acquiring an additional 972 shares during the period. Sound Income Strategies LLC's holdings in Quanta Services were worth $437,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SCP Investment LP bought a new position in shares of Quanta Services in the first quarter worth $966,000. Brighton Jones LLC bought a new position in shares of Quanta Services in the fourth quarter worth $298,000. Swedbank AB boosted 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 worth $304,269,000 after acquiring an additional 401,418 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of 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 worth $17,480,000 after acquiring an additional 2,479 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Quanta Services by 60.0% in the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after buying an additional 588 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 0.9%

PWR stock opened at $409.12 on Tuesday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The business's 50 day moving average price is $388.67 and its two-hundred day moving average price is $346.40. 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 has a market capitalization of $60.96 billion, a price-to-earnings ratio of 63.33, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last posted 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 prior year, the business earned $1.90 EPS. The business's revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services's dividend payout ratio is presently 6.19%.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent analyst reports. Citigroup increased their price objective on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. UBS Group increased their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Roth Capital reiterated a "buy" rating and issued a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $404.27.

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.

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