Ritholtz Wealth Management Buys 271 Shares of Quanta Services, Inc. $PWR

Ritholtz Wealth Management boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,897 shares of the construction company’s stock after acquiring an additional 271 shares during the period. Ritholtz Wealth Management’s holdings in Quanta Services were worth $1,852,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bayforest Capital Ltd increased its stake in Quanta Services by 29.3% during the 2nd quarter. Bayforest Capital Ltd now owns 1,430 shares of the construction company’s stock worth $541,000 after acquiring an additional 324 shares during the period. Sagespring Wealth Partners LLC boosted its holdings in shares of Quanta Services by 63.1% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 1,308 shares of the construction company’s stock valued at $491,000 after purchasing an additional 506 shares in the last quarter. Equitable Trust Co. acquired a new stake in shares of Quanta Services in the 2nd quarter valued at $244,000. TD Asset Management Inc boosted its holdings in shares of Quanta Services by 0.4% in the 2nd quarter. TD Asset Management Inc now owns 120,564 shares of the construction company’s stock valued at $45,583,000 after purchasing an additional 524 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of Quanta Services by 15.1% in the 2nd quarter. Axxcess Wealth Management LLC now owns 4,010 shares of the construction company’s stock valued at $1,516,000 after purchasing an additional 526 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.1%

Shares of NYSE:PWR opened at $437.38 on Friday. The firm has a market cap of $65.17 billion, a P/E ratio of 67.71, a P/E/G ratio of 2.59 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.37 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 $446.60. The business has a fifty day simple moving average of $395.46 and a 200 day simple moving average of $359.82.

Quanta Services (NYSE:PWR) last announced 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. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the company earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts predict 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 was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Northland Securities downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 target price on the stock. in a report on Wednesday, July 2nd. Stifel Nicolaus raised their target price on Quanta Services from $432.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. raised their target price on Quanta Services from $395.00 to $436.00 and gave the company a “neutral” rating in a report on Thursday. Wall Street Zen downgraded Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Northland Capmk downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $410.45.

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.