Zimmer Partners LP Purchases 16,600 Shares of Quanta Services, Inc. $PWR

Key Points

• Zimmer Partners LP increased its stake in Quanta Services by 37.5%, bringing its holdings to $15.48 million after acquiring an additional 16,600 shares in Q1.
• Quanta Services reported a quarterly earnings per share of $2.48, exceeding estimates of $2.44, and recorded a 21.1% year-over-year revenue increase to $6.77 billion.
• The company announced a $0.10 quarterly dividend to be paid on October 10th, representing an annualized yield of 0.1%.

Zimmer Partners LP increased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 37.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 60,900 shares of the construction company's stock after purchasing an additional 16,600 shares during the quarter. Zimmer Partners LP's holdings in Quanta Services were worth $15,480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SCP Investment LP bought a new stake in shares of Quanta Services during the 1st quarter worth $966,000. Brighton Jones LLC acquired a new position in Quanta Services during the 4th quarter worth $298,000. Wealth Enhancement Advisory Services LLC boosted its holdings in 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 valued at $17,480,000 after acquiring an additional 2,479 shares during the period. Farther Finance Advisors LLC grew its position in shares of Quanta Services by 60.0% in the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after purchasing an additional 588 shares during the last quarter. Finally, Objectivity Squared LLC bought a new position in shares of Quanta Services in the first quarter worth about $213,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

PWR traded down $7.14 during trading on Friday, reaching $382.50. 833,428 shares of the company's stock were exchanged, compared to its average volume of 807,221. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $387.66 and a 200 day moving average price of $335.35. The company has a market capitalization of $56.99 billion, a P/E ratio of 59.21, a PEG ratio of 2.27 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share 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 firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the company earned $1.90 earnings per share. The business'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. As a group, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently weighed in on PWR. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Mizuho began 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 on the stock. Stifel Nicolaus boosted their target price on shares of Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. UBS Group upped their target price on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $397.18.

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.