VeriStar Capital Management LP Purchases New Holdings in Quanta Services, Inc. $PWR

Key Points

• VeriStar Capital Management LP purchased a new stake in Quanta Services, acquiring 9,750 shares valued at approximately $2.48 million, making the stock 4.5% of its investment portfolio.
• Quanta Services reported a 21.1% year-over-year increase in revenue, totaling $6.77 billion for the quarter, and exceeded EPS estimates with $2.48.
• The company declared a $0.10 per share quarterly dividend, with a dividend yield of 0.1%, set to be paid to shareholders on October 10th.

VeriStar Capital Management LP purchased a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,750 shares of the construction company's stock, valued at approximately $2,478,000. Quanta Services comprises 4.5% of VeriStar Capital Management LP's investment portfolio, making the stock its 12th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Brighton Jones LLC bought a new stake in Quanta Services in the fourth quarter valued at about $298,000. Quarry LP bought a new stake in Quanta Services in the fourth quarter valued at about $26,000. AQR Capital Management LLC increased its holdings in Quanta Services by 14.5% in the fourth quarter. AQR Capital Management LLC now owns 39,911 shares of the construction company's stock valued at $12,614,000 after buying an additional 5,042 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in Quanta Services in the fourth quarter valued at about $2,563,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Quanta Services in the fourth quarter worth about $3,819,000. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Quanta Services from a "buy" rating to a "hold" rating in a report on Saturday. Northland Capmk cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Evercore ISI raised their target price on shares of Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. UBS Group raised their target price on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, BMO Capital Markets cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. 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, Quanta Services has a consensus rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Price Performance

NYSE PWR opened at $378.24 on Tuesday. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap 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 1.01. The company has a 50-day moving average price of $387.61 and a two-hundred day moving average price of $328.76.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the firm earned $1.90 EPS. Quanta Services'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. Analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services's payout ratio is 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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