BridgePort Financial Solutions LLC Purchases Shares of 579 Quanta Services, Inc. $PWR

BridgePort Financial Solutions LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 579 shares of the construction company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after buying an additional 407,878 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Quanta Services in the second quarter worth about $650,960,000. Nuveen LLC acquired a new position in shares of Quanta Services during the first quarter worth approximately $404,288,000. Northern Trust Corp grew its stake in shares of Quanta Services by 3.8% during the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock valued at $392,839,000 after purchasing an additional 56,081 shares during the last quarter. Finally, Amundi increased its holdings in shares of Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after purchasing an additional 788,079 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PWR has been the topic of several research reports. Sanford C. Bernstein downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective on the stock. in a report on Monday, July 28th. Wall Street Zen lowered Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Jefferies Financial Group upgraded Quanta Services from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $398.00 to $469.00 in a research report on Wednesday, September 24th. Stifel Nicolaus upped their target price on shares of Quanta Services from $411.00 to $432.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Finally, TD Cowen lifted their price target on shares of Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Fourteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.27.

Quanta Services Stock Performance

Shares of PWR stock opened at $421.88 on Friday. The stock has a market cap of $62.86 billion, a PE ratio of 65.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The stock has a 50-day moving average of $389.67 and a 200-day moving average of $350.08. 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 one year low of $227.08 and a one year high of $431.24.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating 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%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services’s payout ratio is presently 6.19%.

About Quanta Services

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.