Wolff Wiese Magana LLC Has $735,000 Position in Quanta Services, Inc. $PWR

Key Points

• Wolff Wiese Magana LLC increased its stake in Quanta Services, Inc. by 134.9% in Q2, holding shares worth $735,000 as of the latest SEC filing.
• Several institutional investors, including Kingstone Capital Partners and Nuveen LLC, have significantly increased their positions in Quanta Services, reflecting strong institutional interest in the stock.
• Analysts have set a consensus price target for Quanta Services at $404.27, with most ratings classified as a "Moderate Buy" following recent adjustments by major brokerages.

Wolff Wiese Magana LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 134.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,943 shares of the construction company's stock after acquiring an additional 1,116 shares during the period. Wolff Wiese Magana LLC's holdings in Quanta Services were worth $735,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PWR. Kingstone Capital Partners Texas LLC acquired a new position in Quanta Services in the second quarter valued at approximately $650,960,000. Nuveen LLC acquired a new position in shares of Quanta Services during the first quarter valued at about $404,288,000. GAMMA Investing LLC raised its holdings in shares of Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after purchasing an additional 811,797 shares during the period. Amundi raised its holdings in shares of Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock valued at $304,139,000 after purchasing an additional 788,079 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Quanta Services by 433.3% during the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after purchasing an additional 504,540 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PWR. JPMorgan Chase & Co. upped their target price on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. UBS Group upped their target price on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Wall Street Zen lowered Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Seaport Res Ptn raised Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $404.27.

Quanta Services Trading Up 1.4%

Shares of Quanta Services stock opened at $406.00 on Monday. The stock has a fifty day simple moving average of $388.49 and a 200 day simple moving average of $345.37. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The company has a market capitalization of $60.50 billion, a P/E ratio of 62.85, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. 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 announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $6.55 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. Quanta Services's 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. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

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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