Quanta Services, Inc. $PWR Shares Acquired by Segment Wealth Management LLC

Segment Wealth Management LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,986 shares of the construction company’s stock after purchasing an additional 624 shares during the period. Segment Wealth Management LLC’s holdings in Quanta Services were worth $8,312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in Quanta Services during the 1st quarter worth approximately $25,000. SOA Wealth Advisors LLC. lifted its position in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares in the last quarter. WPG Advisers LLC acquired a new position in Quanta Services during the 1st quarter worth approximately $31,000. AlphaQuest LLC acquired a new position in Quanta Services during the 1st quarter worth approximately $35,000. Finally, Zions Bancorporation National Association UT acquired a new position in Quanta Services during the 1st quarter worth approximately $40,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup boosted their price target on Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. TD Cowen lifted their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. BMO Capital Markets downgraded Quanta Services from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. JPMorgan Chase & Co. lifted their price objective on Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Truist Financial lifted their price objective on Quanta Services from $375.00 to $472.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Fourteen 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, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $404.27.

Quanta Services Price Performance

Shares of NYSE PWR opened at $421.88 on Friday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $431.24. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $62.86 billion, a price-to-earnings ratio of 65.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The business has a 50 day simple moving average of $389.67 and a 200-day simple moving average of $349.54.

Quanta Services (NYSE:PWR) last issued 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 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, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.19%.

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.