WPG Advisers LLC Invests $31,000 in Quanta Services, Inc. $PWR

WPG Advisers LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 121 shares of the construction company’s stock, valued at approximately $31,000.

Several other large investors also recently made changes to their positions in PWR. Nuveen LLC acquired a new stake in Quanta Services in the first quarter valued at $404,288,000. GAMMA Investing LLC boosted its position in shares of Quanta Services by 22,475.0% in the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock valued at $207,261,000 after acquiring an additional 811,797 shares during the period. Bank of America Corp DE grew its position in shares of Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock worth $534,647,000 after purchasing an additional 506,722 shares in the last quarter. Jennison Associates LLC grew its position in Quanta Services by 433.3% during the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock worth $157,839,000 after buying an additional 504,540 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after purchasing an additional 407,878 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 2.0%

PWR stock opened at $378.24 on Monday. The stock has a market cap of $56.36 billion, a P/E ratio of 58.55, a P/E/G ratio of 2.24 and a beta of 1.01. The stock’s fifty day simple moving average is $387.37 and its two-hundred day simple moving average is $328.11. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the company posted $1.90 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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

Analyst Ratings Changes

PWR has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. TD Cowen increased their price objective on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Evercore ISI raised their price target on shares of Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $392.45.

Quanta Services 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.