Abacus Planning Group Inc. Buys 150 Shares of Quanta Services, Inc. $PWR

Abacus Planning Group Inc. grew its stake in Quanta Services, Inc. (NYSE:PWR) by 9.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,677 shares of the construction company’s stock after purchasing an additional 150 shares during the quarter. Abacus Planning Group Inc.’s holdings in Quanta Services were worth $634,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Quanta Services in the second quarter worth $650,960,000. Nuveen LLC purchased a new position in shares of Quanta Services in the first quarter worth $404,288,000. Northern Trust Corp raised its stake in shares of Quanta Services by 3.8% in the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock worth $392,839,000 after purchasing an additional 56,081 shares during the last quarter. Finally, Amundi increased its position in Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after acquiring an additional 788,079 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PWR. Sanford C. Bernstein cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective for the company. in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Northland Capmk cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. TD Cowen upped their price target on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Evercore ISI upped their price target on Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $404.27.

Quanta Services Stock Performance

NYSE:PWR opened at $420.71 on Friday. 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 $431.24. The stock has a 50-day moving average price of $389.67 and a 200 day moving average price of $348.44. The stock has a market capitalization of $62.69 billion, a P/E ratio of 65.13, a P/E/G ratio of 2.50 and a beta of 1.04.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter last year, the business posted $1.90 earnings per share. The firm’s 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. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS 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. Investors of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio is presently 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.