Spinnaker Trust Invests $349,000 in Quanta Services, Inc. $PWR

Spinnaker Trust bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 923 shares of the construction company’s stock, valued at approximately $349,000.

A number of other hedge funds have also modified their holdings of PWR. Cullen Frost Bankers Inc. acquired a new position in Quanta Services in the 1st quarter worth about $25,000. Copia Wealth Management raised its position in Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares in the last quarter. Solstein Capital LLC lifted its stake in shares of Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Quanta Services in the first quarter worth about $31,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. DA Davidson boosted their target price on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $432.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Seaport Res Ptn raised shares of Quanta Services to a “hold” rating in a report on Thursday, July 10th. BMO Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Finally, Truist Financial upped their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Fourteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $414.09.

Quanta Services Stock Up 1.0%

PWR stock opened at $453.20 on Friday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $460.86. 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 company has a market cap of $67.53 billion, a PE ratio of 70.15, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04. The business’s 50-day simple moving average is $406.70 and its 200 day simple moving average is $373.13.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the company earned $2.72 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were issued a $0.10 dividend. 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 payout ratio 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.