Wealthfront Advisers LLC Boosts Stake in Quanta Services, Inc. $PWR

Wealthfront Advisers LLC raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,332 shares of the construction company’s stock after purchasing an additional 1,133 shares during the quarter. Wealthfront Advisers LLC’s holdings in Quanta Services were worth $8,821,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Old Port Advisors raised its position in 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 during the period. Pinnacle Wealth Planning Services Inc. grew its stake in shares of Quanta Services by 3.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after buying an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of Quanta Services by 1.1% in the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after buying an additional 34 shares in the last quarter. Eastern Bank grew its stake in shares of Quanta Services by 23.5% in the second quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after buying an additional 35 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its stake in shares of Quanta Services by 3.4% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company’s stock valued at $277,000 after buying an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.1%

NYSE:PWR opened at $441.47 on Tuesday. The stock has a 50-day simple moving average of $402.52 and a 200-day simple moving average of $370.08. The stock has a market cap of $65.78 billion, a P/E ratio of 68.34, a P/E/G ratio of 2.61 and a beta of 1.04. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $447.17. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the business earned $1.90 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PWR shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a research note on Wednesday, October 8th. Evercore ISI lifted their price objective on Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Wall Street Zen cut Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Finally, Seaport Res Ptn raised Quanta Services to a “hold” rating in a research note on Thursday, July 10th. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $411.59.

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.