Sterling Investment Counsel LLC Invests $264,000 in Quanta Services, Inc. $PWR

Sterling Investment Counsel LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 699 shares of the construction company’s stock, valued at approximately $264,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Cullen Frost Bankers Inc. purchased a new stake in Quanta Services during the 1st quarter worth about $25,000. SOA Wealth Advisors LLC. lifted its holdings in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares in the last quarter. WPG Advisers LLC purchased a new stake in Quanta Services during the 1st quarter worth about $31,000. AlphaQuest LLC purchased a new stake in Quanta Services during the 1st quarter worth about $35,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Quanta Services during the 1st quarter worth about $40,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $420.71 on Friday. The stock has a market cap of $62.69 billion, a price-to-earnings ratio of 65.13, a P/E/G ratio of 2.50 and a beta of 1.04. 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, Inc. has a 1-year low of $227.08 and a 1-year high of $431.24. The stock’s 50-day moving average is $389.67 and its 200 day moving average is $348.44.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the firm posted $1.90 EPS. 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 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be issued 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 of this dividend is Wednesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.19%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. DA Davidson increased their price objective on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. UBS Group increased their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Northland Capmk cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Stifel Nicolaus raised their price target on Quanta Services from $411.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 4th. Finally, Truist Financial raised their price target on Quanta Services from $375.00 to $472.00 and gave the company a “buy” rating in a report on Monday, August 4th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.