Lewis Asset Management LLC Purchases Shares of 610 Quanta Services, Inc. $PWR

Lewis Asset Management LLC purchased a new stake in Quanta Services, Inc. (NYSE:PWR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 610 shares of the construction company’s stock, valued at approximately $231,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in 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 purchasing an additional 407,878 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Quanta Services in the second quarter valued at approximately $650,960,000. Nuveen LLC acquired a new position in shares of Quanta Services in the 1st quarter valued at $404,288,000. Northern Trust Corp raised its position in Quanta Services by 3.8% in the 1st 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 boosted its stake in Quanta Services by 188.3% during the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after purchasing an additional 788,079 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Up 2.0%

Shares of PWR stock opened at $396.24 on Tuesday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The stock has a market cap of $59.04 billion, a P/E ratio of 61.34, a P/E/G ratio of 2.31 and a beta of 1.01. The business has a fifty day simple moving average of $388.08 and a 200-day simple moving average of $341.07. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.55 billion. During the same quarter last year, the business posted $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. On average, analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is presently 6.19%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PWR shares. JPMorgan Chase & Co. increased their price target on shares of Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Roth Capital reiterated a “buy” rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Truist Financial increased their price target on shares of Quanta Services from $375.00 to $472.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Finally, TD Cowen upped their price target on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $401.19.

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.