Exchange Traded Concepts LLC Raises Stock Holdings in Quanta Services, Inc. $PWR

Exchange Traded Concepts LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 27.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,755 shares of the construction company’s stock after purchasing an additional 6,003 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Quanta Services were worth $10,494,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. increased its holdings in Quanta Services by 3.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock worth $242,000 after acquiring an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in shares of Quanta Services by 1.1% in the first 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 period. 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. Commerzbank Aktiengesellschaft FI lifted its stake in 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 buying an additional 37 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in 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 buying an additional 38 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $391.23 on Friday. The company has a 50-day moving average price of $387.78 and a 200 day moving average price of $337.76. 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. The stock has a market cap of $58.30 billion, a P/E ratio of 60.56, a PEG ratio of 2.23 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.55 billion. During the same period in the prior year, the firm posted $1.90 earnings per share. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be given 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 (DPR) is presently 6.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. The Goldman Sachs Group reissued a “buy” rating and set a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Citigroup lifted their target price on shares of Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. TD Cowen lifted their target price on shares of Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Truist Financial raised their price target on shares of Quanta Services from $375.00 to $472.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Twelve equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $401.19.

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.