Onyx Bridge Wealth Group LLC Acquires 95 Shares of Quanta Services, Inc. $PWR

Onyx Bridge Wealth Group LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,355 shares of the construction company’s stock after acquiring an additional 95 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Quanta Services were worth $512,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Copia Wealth Management grew its holdings in Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in 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 acquiring an additional 43 shares in the last quarter. Ameriflex Group Inc. increased its holdings in Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after acquiring an additional 40 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Quanta Services in the 1st quarter worth $25,000. Finally, Hemington Wealth Management grew its position in shares of Quanta Services by 69.0% during the second quarter. Hemington Wealth Management now owns 120 shares of the construction company’s stock valued at $45,000 after purchasing an additional 49 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Down 5.7%

Shares of NYSE:PWR opened at $412.44 on Thursday. 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 12 month low of $227.08 and a 12 month high of $446.60. The company has a 50-day moving average price of $399.14 and a 200 day moving average price of $364.73. The company has a market cap of $61.46 billion, a price-to-earnings ratio of 63.85, a PEG ratio of 2.59 and a beta of 1.04.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid 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 presently 6.19%.

Analysts Set New Price Targets

A number of analysts have issued reports on PWR shares. Roth Capital reaffirmed a “buy” rating and issued a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Truist Financial boosted their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Seaport Res Ptn upgraded shares of Quanta Services to a “hold” rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. lifted their price objective on shares of Quanta Services from $395.00 to $436.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Finally, 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 report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $411.59.

Quanta Services 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.