Promethium Advisors LLC Purchases Shares of 2,834 Quanta Services, Inc. $PWR

Promethium Advisors LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 2,834 shares of the construction company’s stock, valued at approximately $720,000.

Several other large investors also recently added to or reduced their stakes in the stock. Banque Transatlantique SA purchased a new stake in Quanta Services during the fourth quarter worth $25,000. Quarry LP acquired a new position in Quanta Services in the fourth quarter valued at approximately $26,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Quanta Services during the 1st quarter worth about $25,000. WPG Advisers LLC acquired a new stake in Quanta Services in the 1st quarter valued at $31,000. Finally, AlphaQuest LLC acquired a new stake in shares of Quanta Services in the first quarter valued at about $35,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of PWR opened at $378.24 on Tuesday. The stock has a fifty day moving average price of $387.61 and a 200 day moving average price of $328.76. The company has a market cap of $56.36 billion, a P/E ratio of 58.55, a PEG ratio of 2.24 and a beta of 1.01. 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 12 month low of $227.08 and a 12 month high of $424.94.

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

Quanta Services Announces Dividend

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

Wall Street Analyst Weigh In

PWR has been the topic of several recent analyst reports. Truist Financial upped their price target on Quanta Services from $375.00 to $472.00 and gave the company a “buy” rating in a research note on Monday, August 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. BMO Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, Northland Capmk downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $392.45.

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.