AssuredPartners Investment Advisors LLC Buys New Stake in Quanta Services, Inc. $PWR

AssuredPartners Investment Advisors LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 738 shares of the construction company’s stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Old Port Advisors raised its holdings in shares of Quanta Services by 0.7% in the second quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after buying an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in Quanta Services by 3.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after buying an additional 32 shares during the period. Frank Rimerman Advisors LLC grew its position in Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after buying an additional 34 shares during the period. Eastern Bank grew its position in Quanta Services by 23.5% during the second quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after buying an additional 35 shares during the period. Finally, Legacy Capital Wealth Partners LLC grew its position in shares of Quanta Services by 3.4% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company’s stock valued at $277,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PWR shares. Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Quanta Services in a research note on Wednesday, October 8th. DA Davidson boosted their price target on shares of Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $432.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, TD Cowen lifted their price objective on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $410.45.

Quanta Services Trading Down 0.7%

Shares of Quanta Services stock opened at $434.65 on Friday. The company has a fifty day simple moving average of $396.43 and a 200-day simple moving average of $361.04. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $446.60. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap of $64.77 billion, a price-to-earnings ratio of 67.28, a PEG ratio of 2.59 and a beta of 1.04.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. Quanta Services’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, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

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.