Highland Capital Management LLC Buys 1,914 Shares of Quanta Services, Inc. $PWR

Highland Capital Management LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,605 shares of the construction company’s stock after buying an additional 1,914 shares during the period. Highland Capital Management LLC’s holdings in Quanta Services were worth $7,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PWR. Cullen Frost Bankers Inc. bought a new stake in shares of Quanta Services during the first quarter valued at approximately $25,000. SOA Wealth Advisors LLC. raised its position in shares of Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after buying an additional 43 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of Quanta Services during the first quarter valued at approximately $31,000. Ameriflex Group Inc. raised its position in shares of Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after buying an additional 40 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Quanta Services during the first quarter valued at approximately $35,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of several research reports. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Truist Financial boosted their price target on shares of Quanta Services from $375.00 to $472.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. Citigroup boosted their price target on shares of Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Seaport Res Ptn upgraded shares of Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Fourteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $404.27.

Quanta Services Trading Up 0.2%

PWR stock opened at $421.88 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $431.24. The stock has a market capitalization of $62.86 billion, a price-to-earnings ratio of 65.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The firm’s fifty day simple moving average is $389.67 and its two-hundred day simple moving average is $350.08.

Quanta Services (NYSE:PWR) last posted 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. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the previous year, the business posted $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 anticipate 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. Stockholders of record on Wednesday, October 1st will be paid 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 payout ratio is currently 6.19%.

About Quanta Services

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.