Eastern Bank Raises Position in Quanta Services, Inc. $PWR

Eastern Bank lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 23.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184 shares of the construction company’s stock after buying an additional 35 shares during the period. Eastern Bank’s holdings in Quanta Services were worth $70,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SCP Investment LP purchased a new position in Quanta Services in the first quarter valued at about $966,000. Brighton Jones LLC purchased a new position in Quanta Services in the fourth quarter valued at about $298,000. Swedbank AB boosted its holdings in Quanta Services by 50.5% in the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock valued at $304,269,000 after purchasing an additional 401,418 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Quanta Services by 3.7% in 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 purchasing an additional 2,479 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in 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. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of PWR opened at $417.15 on Monday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $443.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The stock has a fifty day moving average price of $391.79 and a 200 day moving average price of $356.25. The company has a market cap of $62.16 billion, a P/E ratio of 64.57, a PEG ratio of 2.47 and a beta of 1.04.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share 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 firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period last year, the company earned $1.90 earnings per share. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is currently 6.19%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group increased their price target on Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a report on Friday, July 25th. Mizuho began coverage on Quanta Services in a report on Thursday, September 4th. They set a “neutral” rating and a $360.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a report on Wednesday, October 8th. Finally, DA Davidson increased their target price on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $408.45.

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.