Shell Asset Management Co. Raises Position in Quanta Services, Inc. $PWR

Shell Asset Management Co. boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 67.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,212 shares of the construction company’s stock after buying an additional 1,699 shares during the quarter. Shell Asset Management Co.’s holdings in Quanta Services were worth $1,592,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. purchased a new stake in Quanta Services in the first quarter worth about $25,000. SOA Wealth Advisors LLC. lifted its holdings in Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after buying an additional 43 shares during the period. WPG Advisers LLC purchased a new stake in Quanta Services in the first quarter worth about $31,000. Ameriflex Group Inc. increased its stake in shares of Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after purchasing an additional 40 shares in the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of Quanta Services during the first quarter valued at approximately $35,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of PWR opened at $443.56 on Thursday. The company has a market capitalization of $66.09 billion, a P/E ratio of 68.66, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. 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 firm has a 50 day moving average of $390.85 and a 200 day moving average of $352.87. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $443.97.

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 the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company 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 firm earned $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. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PWR shares. BMO Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Truist Financial lifted their target price on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus lifted their target price on shares of Quanta Services from $411.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 4th. JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $345.00 to $392.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Finally, Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Fourteen 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 has an average rating of “Moderate Buy” and an average price target of $406.50.

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.