Purkiss Capital Advisors LLC Invests $214,000 in Quanta Services, Inc. $PWR

by · The Markets Daily

Purkiss Capital Advisors LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 565 shares of the construction company’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Quanta Services by 60.6% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 5,438 shares of the construction company’s stock worth $2,056,000 after buying an additional 2,051 shares during the period. Teacher Retirement System of Texas boosted its holdings in Quanta Services by 4.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 22,501 shares of the construction company’s stock worth $8,507,000 after buying an additional 924 shares during the period. GoalVest Advisory LLC boosted its holdings in Quanta Services by 1,560.0% in the 2nd quarter. GoalVest Advisory LLC now owns 415 shares of the construction company’s stock worth $157,000 after buying an additional 390 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in Quanta Services by 1.2% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock worth $851,000 after buying an additional 26 shares during the period. Finally, Solstein Capital LLC boosted its holdings in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Down 0.7%

Shares of PWR stock opened at $438.74 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $403.72 and a two-hundred day moving average price of $371.31. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $447.17. The firm has a market cap of $65.38 billion, a P/E ratio of 67.92, a price-to-earnings-growth ratio of 2.62 and a beta of 1.04.

Quanta Services (NYSE:PWR – Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $6.55 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. The company’s 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. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services’s payout ratio is 6.19%.

Analyst Ratings Changes

Several research firms recently commented on PWR. BMO Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Stifel Nicolaus boosted their price target on shares of Quanta Services from $432.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Truist Financial upped their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. TD Cowen lifted their price objective on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Sanford C. Bernstein lowered Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price on the stock. in a research note on Monday, July 28th. Fourteen investment 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $414.09.

View Our Latest Stock Analysis on Quanta Services

About Quanta Services

(Free Report)

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.

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