TruWealth Advisors LLC Boosts Stake in Quanta Services, Inc. $PWR

TruWealth Advisors LLC increased its position in Quanta Services, Inc. (NYSE:PWR) by 2.7% in the 2nd quarter, Holdings Channel reports. The firm owned 50,799 shares of the construction company’s stock after buying an additional 1,314 shares during the period. TruWealth Advisors LLC’s holdings in Quanta Services were worth $19,206,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Quanta Services by 3.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after purchasing an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC lifted its holdings in shares of Quanta Services by 1.1% in the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after purchasing an additional 34 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its holdings in shares of Quanta Services by 3.4% in the 1st 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 last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Quanta Services by 2.6% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company’s stock valued at $365,000 after purchasing an additional 37 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Quanta Services by 15.6% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company’s stock valued at $72,000 after purchasing an additional 38 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the topic of several recent research reports. Roth Capital restated a “buy” rating and issued a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Stifel Nicolaus boosted their price target on Quanta Services from $411.00 to $432.00 and gave the company a “buy” rating in a research report on Monday, August 4th. TD Cowen boosted their price target on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. DA Davidson boosted their price target on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Finally, Citigroup boosted their price target on Quanta Services from $432.00 to $492.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $397.18.

Quanta Services Stock Performance

Shares of PWR stock opened at $382.50 on Friday. The company has a market cap of $57.00 billion, a price-to-earnings ratio of 59.21, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. The stock has a 50 day simple moving average of $387.66 and a 200-day simple moving average of $334.82. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. 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 (NYSE:PWR) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. 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 year.

Quanta Services Dividend Announcement

The firm 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 dividend payout ratio is 6.19%.

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.