Meitav Investment House Ltd. Sells 50,000 Shares of Quanta Services, Inc. $PWR

Meitav Investment House Ltd. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 33.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the construction company’s stock after selling 50,000 shares during the quarter. Meitav Investment House Ltd.’s holdings in Quanta Services were worth $37,830,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PWR. KPP Advisory Services LLC increased its stake in shares of Quanta Services by 8.8% in the second quarter. KPP Advisory Services LLC now owns 5,838 shares of the construction company’s stock valued at $2,207,000 after buying an additional 473 shares during the period. Prime Capital Investment Advisors LLC increased its position in Quanta Services by 3.5% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 1,855 shares of the construction company’s stock valued at $701,000 after purchasing an additional 63 shares during the period. Belpointe Asset Management LLC acquired a new stake in Quanta Services during the 2nd quarter valued at approximately $241,000. Three Bridge Wealth Advisors LLC acquired a new stake in Quanta Services during the 2nd quarter valued at approximately $292,000. Finally, Simplicity Wealth LLC grew its position in shares of Quanta Services by 38.8% during the 2nd quarter. Simplicity Wealth LLC now owns 1,377 shares of the construction company’s stock worth $521,000 after buying an additional 385 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR opened at $428.33 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $431.24. The stock has a market capitalization of $63.83 billion, a PE ratio of 66.30, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The stock’s 50 day moving average price is $390.00 and its 200-day moving average price is $351.75.

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, topping the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PWR shares. Evercore ISI increased their target price on Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. DA Davidson lifted their price objective on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Jefferies Financial Group raised Quanta Services from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $398.00 to $469.00 in a report on Wednesday, September 24th. Stifel Nicolaus lifted their target price on Quanta Services from $411.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 4th. Finally, Truist Financial lifted their price target on Quanta Services from $375.00 to $472.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $404.27.

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.