Delta Investment Management LLC Takes $201,000 Position in Quanta Services, Inc. $PWR

Delta Investment Management LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 531 shares of the construction company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $298,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Quanta Services by 96.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,825 shares of the construction company’s stock valued at $12,919,000 after buying an additional 24,966 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Quanta Services by 8.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 372,313 shares of the construction company’s stock worth $94,635,000 after buying an additional 27,644 shares during the last quarter. KBC Group NV increased its stake in Quanta Services by 20.6% during the 1st quarter. KBC Group NV now owns 14,627 shares of the construction company’s stock worth $3,718,000 after buying an additional 2,502 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Quanta Services by 1.4% during the first quarter. Amalgamated Bank now owns 30,231 shares of the construction company’s stock valued at $7,684,000 after acquiring an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Roth Capital reissued a “buy” rating and set a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Evercore ISI increased their target price on Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Northland Capmk cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Citigroup increased their target price on Quanta Services from $490.00 to $517.00 and gave the company a “buy” rating in a report on Monday, October 20th. Finally, Truist Financial increased their target price on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $411.59.

Quanta Services Price Performance

NYSE:PWR opened at $441.47 on Tuesday. Quanta Services, Inc. has a one year low of $227.08 and a one 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. The stock has a market cap of $65.78 billion, a PE ratio of 68.34, a P/E/G ratio of 2.61 and a beta of 1.04. The stock has a 50 day moving average price of $402.52 and a 200 day moving average price of $370.08.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS 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 firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend 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.