Quanta Services, Inc. $PWR Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky raised its position in Quanta Services, Inc. (NYSE:PWR) by 5.1% in the 2nd quarter, Holdings Channel reports. The fund owned 4,713 shares of the construction company’s stock after acquiring an additional 228 shares during the period. Independence Bank of Kentucky’s holdings in Quanta Services were worth $1,782,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PWR. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Quanta Services in the 2nd quarter worth $650,960,000. Nuveen LLC acquired a new stake in shares of Quanta Services in the 1st quarter worth $404,288,000. GAMMA Investing LLC lifted its stake in shares of Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock worth $207,261,000 after acquiring an additional 811,797 shares during the period. Amundi lifted its stake in shares of Quanta Services by 188.3% in the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after acquiring an additional 788,079 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Quanta Services by 433.3% in the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock worth $157,839,000 after acquiring an additional 504,540 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PWR. Sanford C. Bernstein downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target for the company. in a report on Monday, July 28th. Roth Capital reiterated a “buy” rating and issued a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. JPMorgan Chase & Co. increased their price target on shares of Quanta Services from $345.00 to $392.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Truist Financial increased their price target on shares of Quanta Services from $375.00 to $472.00 and gave the company a “buy” rating in a report on Monday, August 4th. Finally, DA Davidson increased their price target on shares of Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $404.27.

Quanta Services Price Performance

Shares of NYSE PWR opened at $406.00 on Monday. The stock has a market cap of $60.50 billion, a price-to-earnings ratio of 62.85, a PEG ratio of 2.41 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The company’s 50-day moving average price is $388.49 and its 200 day moving average price is $345.37. 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 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. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations 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 was up 21.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend 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 currently 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.