Simplicity Wealth LLC Acquires 385 Shares of Quanta Services, Inc. $PWR

Simplicity Wealth LLC raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 38.8% during the second quarter, HoldingsChannel.com reports. The fund owned 1,377 shares of the construction company’s stock after purchasing an additional 385 shares during the period. Simplicity Wealth LLC’s holdings in Quanta Services were worth $521,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SCP Investment LP bought a new position in Quanta Services in the first quarter valued at about $966,000. Brighton Jones LLC acquired a new stake in shares of Quanta Services during the fourth quarter valued at about $298,000. Swedbank AB boosted its stake in shares of Quanta Services by 50.5% during the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock valued at $304,269,000 after purchasing an additional 401,418 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company’s stock valued at $17,480,000 after purchasing an additional 2,479 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Quanta Services by 60.0% during the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company’s stock valued at $404,000 after purchasing an additional 588 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 1.3%

Shares of PWR stock opened at $422.45 on Wednesday. The company has a market cap of $62.95 billion, a P/E ratio of 65.39, a PEG ratio of 2.54 and a beta of 1.04. The stock has a 50 day simple moving average of $390.22 and a two-hundred day simple moving average of $352.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $434.39.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share 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 firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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 is presently 6.19%.

Analyst Ratings Changes

A number of brokerages have recently commented on PWR. Wall Street Zen lowered Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Northland Securities lowered Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price objective on the stock. in a research note on Wednesday, July 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a research note on Saturday, September 27th. Stifel Nicolaus lifted their price objective on Quanta Services from $411.00 to $432.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Finally, Jefferies Financial Group raised Quanta Services from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $398.00 to $469.00 in a research note on Wednesday, September 24th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $404.27.

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.