Westend Capital Management LLC Has $13.20 Million Stake in Quanta Services, Inc. $PWR

Key Points

• Westend Capital Management LLC increased its stake in Quanta Services, Inc. by 2.1%, now owning 34,907 shares valued at approximately $13.2 million.
• Quanta Services reported $2.48 earnings per share for the last quarter, exceeding estimates, and had a 21.1% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.10 per share, payable on October 10th, with a 0.1% annualized yield.

Westend Capital Management LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,907 shares of the construction company's stock after purchasing an additional 730 shares during the period. Quanta Services makes up 4.1% of Westend Capital Management LLC's portfolio, making the stock its 12th biggest position. Westend Capital Management LLC's holdings in Quanta Services were worth $13,198,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SCP Investment LP acquired a new stake in shares of Quanta Services during the first quarter worth approximately $966,000. Brighton Jones LLC acquired a new stake in shares of Quanta Services during the fourth quarter worth approximately $298,000. Swedbank AB increased its holdings 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 buying an additional 401,418 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings 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 buying an additional 2,479 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings 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 buying an additional 588 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PWR shares. TD Cowen raised their price objective on shares of Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Evercore ISI raised their price target on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. UBS Group raised their price target on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Twelve analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $401.19.

Quanta Services Trading Up 2.0%

Shares of Quanta Services stock traded up $7.66 during trading hours on Monday, hitting $396.24. The company's stock had a trading volume of 812,060 shares, compared to its average volume of 848,449. The company has a market capitalization of $59.04 billion, a PE ratio of 61.34, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. 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 stock has a 50 day moving average of $388.08 and a 200 day moving average of $341.07. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94.

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 the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the firm earned $1.90 EPS. Quanta Services's quarterly revenue was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced 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 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 is presently 6.19%.

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.