Whitaker Myers Wealth Managers LTD. Boosts Stake in Quanta Services, Inc. $PWR

Whitaker Myers Wealth Managers LTD. raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 127.2% in the second quarter, Holdings Channel.com reports. The fund owned 3,358 shares of the construction company’s stock after buying an additional 1,880 shares during the quarter. Whitaker Myers Wealth Managers LTD.’s holdings in Quanta Services were worth $1,270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Quanta Services in the first quarter worth about $25,000. WPG Advisers LLC purchased a new stake in shares of Quanta Services in the first quarter worth about $31,000. AlphaQuest LLC purchased a new stake in shares of Quanta Services in the first quarter worth about $35,000. Zions Bancorporation National Association UT purchased a new stake in shares of Quanta Services in the first quarter worth about $40,000. Finally, OLD Second National Bank of Aurora purchased a new stake in shares of Quanta Services in the first quarter worth about $42,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PWR. DA Davidson increased their price target on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Seaport Res Ptn raised Quanta Services to a “hold” rating in a report on Thursday, July 10th. Mizuho assumed coverage on Quanta Services in a report on Thursday, September 4th. They issued a “neutral” rating and a $360.00 price target for the company. Stifel Nicolaus increased their price target on Quanta Services from $411.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 4th. Finally, Sanford C. Bernstein downgraded 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. 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 currently has a consensus rating of “Moderate Buy” and an average target price of $397.18.

Quanta Services Trading Down 1.8%

NYSE:PWR opened at $382.50 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $387.66 and its two-hundred day moving average is $334.82. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The company has a market cap of $57.00 billion, a PE ratio of 59.21, a P/E/G ratio of 2.31 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the business posted $1.90 EPS. Quanta Services’s quarterly revenue 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. On average, analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is 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.