Wealthfront Advisers LLC Boosts Stock Position in Quanta Services, Inc. $PWR

Wealthfront Advisers LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 5.1% in the 2nd quarter, Holdings Channel reports. The fund owned 23,332 shares of the construction company’s stock after acquiring an additional 1,133 shares during the quarter. Wealthfront Advisers LLC’s holdings in Quanta Services were worth $8,821,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Kingstone Capital Partners Texas LLC purchased a new stake in Quanta Services during the 2nd quarter valued at approximately $650,960,000. Nuveen LLC purchased a new stake in Quanta Services during the 1st quarter valued at approximately $404,288,000. Amundi raised its stake in Quanta Services by 188.3% during the 1st 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. Jennison Associates LLC raised its stake in Quanta Services by 433.3% during the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock valued at $157,839,000 after acquiring an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after acquiring an additional 407,878 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the topic of several recent analyst reports. DA Davidson boosted their target price on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Seaport Res Ptn upgraded Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Northland Securities cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 target price on the stock. in a research report on Wednesday, July 2nd. 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 research report on Tuesday, July 29th. Finally, Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Fourteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $411.59.

Quanta Services Stock Performance

PWR opened at $441.47 on Tuesday. The stock’s 50 day simple moving average is $402.52 and its 200 day simple moving average is $370.08. The stock has a market cap of $65.78 billion, a P/E ratio of 68.34, a P/E/G ratio of 2.61 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $447.17.

Quanta Services (NYSE:PWR) last announced its earnings results 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 return on equity of 18.41% and a net margin of 3.73%.Quanta Services’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend payout ratio is 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.