Worth Financial Advisory Group LLC Buys Shares of 677 Quanta Services, Inc. $PWR

Key Points

• Worth Financial Advisory Group LLC has acquired 677 shares of Quanta Services, Inc. (NYSE:PWR), valued at approximately $256,000, representing a new investment in the company during the second quarter.
• Quanta Services reported a 21.1% increase in revenue compared to the same quarter last year, with quarterly earnings of $2.48 per share, surpassing analysts' expectations of $2.44.
• The company announced a quarterly dividend of $0.10 per share, which will be paid to stockholders of record on October 1st, reflecting a 0.1% annual yield.

Worth Financial Advisory Group LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 677 shares of the construction company's stock, valued at approximately $256,000.

Other hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in Quanta Services during the 1st quarter worth $25,000. WPG Advisers LLC bought a new position in Quanta Services during the first quarter worth $31,000. Webster Bank N. A. lifted its stake in Quanta Services by 57.8% in the second quarter. Webster Bank N. A. now owns 131 shares of the construction company's stock valued at $50,000 after buying an additional 48 shares during the last quarter. AlphaQuest LLC bought a new stake in Quanta Services in the first quarter valued at $35,000. Finally, ORG Partners LLC increased its holdings in shares of Quanta Services by 46.7% during the second quarter. ORG Partners LLC now owns 154 shares of the construction company's stock valued at $57,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of PWR opened at $406.00 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The firm's 50 day moving average price is $388.49 and its two-hundred day moving average price is $344.71. The firm has a market cap of $60.50 billion, a P/E ratio of 62.85, a PEG ratio of 2.41 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last posted 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. 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 last year, the company earned $1.90 earnings per share. The firm'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, 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 $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is 6.19%.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of recent analyst reports. TD Cowen increased their price target on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. UBS Group lifted their price target on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. DA Davidson upped their target price on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Mizuho initiated coverage on shares of Quanta Services in a research note on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price objective for the company. Finally, Jefferies Financial Group upgraded shares of Quanta Services from a "hold" rating to a "buy" rating and raised their price target for the stock from $398.00 to $469.00 in a research note on Wednesday. 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.com, Quanta Services currently has an average rating of "Moderate Buy" and a consensus price target of $404.27.

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.

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