BridgePort Financial Solutions LLC Purchases Shares of 579 Quanta Services, Inc. $PWR

BridgePort Financial Solutions LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 579 shares of the construction company’s stock, valued at approximately $219,000.

Several other institutional investors have also added to or reduced their stakes in the stock. SCP Investment LP bought a new stake in shares of Quanta Services in the first quarter valued at about $966,000. Brighton Jones LLC acquired a new stake in Quanta Services in the 4th quarter valued at approximately $298,000. Swedbank AB lifted its stake in Quanta Services by 50.5% in the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock valued at $304,269,000 after acquiring an additional 401,418 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Quanta Services by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company’s stock worth $17,480,000 after acquiring an additional 2,479 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Quanta Services by 60.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company’s stock worth $404,000 after acquiring an additional 588 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PWR has been the subject of several recent research reports. BMO Capital Markets cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Stifel Nicolaus boosted their price target on shares of Quanta Services from $411.00 to $432.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. Wall Street Zen cut Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Roth Capital reiterated a “buy” rating and set a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Quanta Services in a research note on Saturday, September 27th. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $404.27.

Quanta Services Trading Up 0.2%

Shares of NYSE:PWR opened at $421.88 on Friday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $431.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company has a market capitalization of $62.86 billion, a P/E ratio of 65.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The company has a 50-day simple moving average of $389.67 and a 200 day simple moving average of $350.08.

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

Quanta Services Announces Dividend

The business 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 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.