Tema Etfs LLC Raises Holdings in Quanta Services, Inc. $PWR

Key Points

• Tema Etfs LLC significantly boosted its stake in Quanta Services, increasing holdings by 412.5% in the first quarter to 10,619 shares, valued at approximately $2.7 million.
• Analysts have rated Quanta Services with a consensus of "Moderate Buy" and updated price targets, with Piper Sandler setting a target at $370.00 and Stifel Nicolaus increasing it to $432.00.
• Quanta Services announced a quarterly dividend of $0.10 per share, reflecting an annualized yield of 0.1%, payable to shareholders on October 10.

Tema Etfs LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 412.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,619 shares of the construction company's stock after purchasing an additional 8,547 shares during the period. Tema Etfs LLC's holdings in Quanta Services were worth $2,699,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PWR. Banque Transatlantique SA purchased a new stake in Quanta Services during the 4th quarter valued at $25,000. Cullen Frost Bankers Inc. purchased a new stake in Quanta Services during the 1st quarter valued at $25,000. Quarry LP purchased a new stake in Quanta Services during the 4th quarter valued at $26,000. AlphaQuest LLC purchased a new stake in Quanta Services during the 1st quarter valued at $35,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Quanta Services during the 1st quarter valued at $40,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Quanta Services stock traded down $7.72 during trading on Friday, reaching $378.24. The company had a trading volume of 774,371 shares, compared to its average volume of 1,012,933. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The firm's 50-day simple moving average is $387.37 and its 200 day simple moving average is $327.85. The firm has a market capitalization of $56.36 billion, a price-to-earnings ratio of 58.55, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

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

Quanta Services Dividend Announcement

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 issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Seaport Res Ptn raised Quanta Services to a "hold" rating in a report on Thursday, July 10th. TD Cowen increased their price target on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and increased their price target for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Evercore ISI increased their price target on Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $392.45.

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.