Sage Mountain Advisors LLC Takes Position in Quanta Services, Inc. $PWR

Sage Mountain Advisors LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 1,009 shares of the construction company’s stock, valued at approximately $381,000.

Several other institutional investors have also recently made changes to their positions in the stock. Old Port Advisors grew its position in shares of Quanta Services by 0.7% in the second quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after purchasing an additional 26 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after buying an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in shares of Quanta Services by 1.1% in the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock worth $792,000 after buying an additional 34 shares in the last quarter. Eastern Bank boosted its position in shares of Quanta Services by 23.5% in the second quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after acquiring an additional 35 shares during the period. Finally, Legacy Capital Wealth Partners LLC grew its stake in Quanta Services by 3.4% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company’s stock valued at $277,000 after acquiring an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent analyst reports. Wall Street Zen cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Northland Capmk lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Mizuho initiated coverage on Quanta Services in a research report on Thursday, September 4th. They set a “neutral” rating and a $360.00 target price for the company. Evercore ISI raised their price target on Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Roth Capital reissued a “buy” rating and set a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Fourteen 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 currently has an average rating of “Moderate Buy” and an average price target of $411.59.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $441.09 on Friday. The stock’s 50-day moving average is $401.36 and its 200 day moving average is $368.20. The stock has a market cap of $65.73 billion, a price-to-earnings ratio of 68.28, a P/E/G ratio of 2.61 and a beta of 1.04. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $447.17. 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 (NYSE:PWR) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the business earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a $0.10 dividend. 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 currently 6.19%.

About Quanta Services

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.