Quanta Services, Inc. $PWR Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,713 shares of the construction company’s stock after purchasing an additional 228 shares during the period. Independence Bank of Kentucky’s holdings in Quanta Services were worth $1,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Old Port Advisors grew its holdings in shares of Quanta Services by 0.7% in the second quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after purchasing an additional 26 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock worth $242,000 after acquiring an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC grew its holdings in Quanta Services by 1.1% during the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock worth $792,000 after acquiring an additional 34 shares in the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in Quanta Services by 3.4% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company’s stock worth $277,000 after acquiring an additional 36 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in Quanta Services by 2.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company’s stock worth $365,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PWR shares. Mizuho started coverage on shares of Quanta Services in a report on Thursday, September 4th. They set a “neutral” rating and a $360.00 price target for the company. DA Davidson boosted their price target on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group restated a “buy” rating and set a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Finally, Northland Securities downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price objective for the company. in a research report on Wednesday, July 2nd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $404.27.

Quanta Services Stock Up 1.4%

Shares of NYSE:PWR opened at $406.00 on Monday. The stock has a market cap of $60.50 billion, a P/E ratio of 62.85, a P/E/G ratio of 2.41 and a beta of 1.01. The firm has a fifty day moving average price of $388.49 and a 200 day moving average price of $345.37. 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 $424.94.

Quanta Services (NYSE:PWR) last issued its quarterly 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 firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. Quanta Services’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio is currently 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.