Sterling Investment Counsel LLC Purchases Shares of 699 Quanta Services, Inc. $PWR

Key Points

• Sterling Investment Counsel LLC has purchased 699 shares of Quanta Services, Inc., valued at approximately $264,000, during the 2nd quarter, reflecting institutional interest in the company.
• Quanta Services reported $2.48 earnings per share for the last quarter, surpassing analysts' expectations, with revenues increasing by 21.1% year-over-year.
• The company declared a quarterly dividend of $0.10 per share, which will be paid on October 10th, contributing to its annualized yield of 0.1%.

Sterling Investment Counsel LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 699 shares of the construction company's stock, valued at approximately $264,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SCP Investment LP acquired a new position in Quanta Services in the first quarter valued at approximately $966,000. Brighton Jones LLC acquired a new position in shares of Quanta Services during the fourth quarter worth approximately $298,000. Swedbank AB raised its position in shares of Quanta Services by 50.5% during the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company's stock worth $304,269,000 after purchasing an additional 401,418 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after purchasing an additional 2,479 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Quanta Services by 60.0% during the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after purchasing an additional 588 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.0%

Shares of NYSE:PWR opened at $420.71 on Friday. The company has a market capitalization of $62.69 billion, a PE ratio of 65.13, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The business has a fifty day moving average price of $389.67 and a two-hundred day moving average price of $348.44. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $431.24.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business's revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. 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%.

Analysts Set New Price Targets

PWR has been the topic of a number of research reports. Roth Capital reaffirmed a "buy" rating and set a $450.00 target price (up from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Truist Financial upped their target price on Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. DA Davidson upped their target price on Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Finally, Northland Securities lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target for the company. in a research report on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and an average 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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