TD Private Client Wealth LLC Takes Position in Quanta Services, Inc. $PWR

Key Points

• TD Private Client Wealth LLC acquired a new stake in Quanta Services, Inc. worth approximately $459,000 during the second quarter, purchasing 1,213 shares.
• Analyst upgrades have been positive, with UBS raising its target price from $413.00 to $474.00 and thirteen analysts rating the stock as a "Buy."
• Quanta Services reported earnings of $2.48 per share, surpassing expectations, with a reported revenue of $6.77 billion for the quarter, representing a year-over-year increase of 21.1%.

TD Private Client Wealth LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,213 shares of the construction company's stock, valued at approximately $459,000.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after buying an additional 407,878 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Quanta Services during the second quarter worth $650,960,000. Nuveen LLC bought a new position in Quanta Services during the first quarter worth $404,288,000. Northern Trust Corp raised its stake in Quanta Services by 3.8% during the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock worth $392,839,000 after buying an additional 56,081 shares during the last quarter. Finally, Amundi raised its stake in Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock worth $304,139,000 after buying an additional 788,079 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Jefferies Financial Group raised shares of Quanta Services from a "hold" rating to a "buy" rating and lifted their target price for the stock from $398.00 to $469.00 in a research note on Wednesday. Truist Financial lifted their price target on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Seaport Res Ptn raised shares of Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Finally, Evercore ISI lifted their price target on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $404.27.

Quanta Services Stock Up 1.4%

Shares of NYSE PWR opened at $406.00 on Friday. The stock has a market capitalization of $60.50 billion, a P/E ratio of 62.85, a P/E/G ratio of 2.41 and a beta of 1.01. The company has a 50-day moving average price of $388.49 and a 200-day moving average price of $344.71. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR - Get Free Report) last issued 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 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 revenue was up 21.1% on a year-over-year basis. During the same period last year, the company earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

About Quanta Services

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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