Milestone Asset Management LLC Purchases Shares of 10,074 Quanta Services, Inc. $PWR

Milestone Asset Management LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,074 shares of the construction company’s stock, valued at approximately $3,809,000.

A number of other hedge funds also recently bought and sold shares of PWR. SCP Investment LP bought a new position in shares of Quanta Services during the first quarter worth $966,000. Brighton Jones LLC acquired a new stake in Quanta Services in the 4th quarter valued at $298,000. Swedbank AB increased its stake in Quanta Services by 50.5% in the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock valued at $304,269,000 after buying an additional 401,418 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Quanta Services in the 2nd quarter valued at $271,000. Finally, Voya Investment Management LLC increased its stake in shares of Quanta Services by 8.6% during the 1st quarter. Voya Investment Management LLC now owns 598,067 shares of the construction company’s stock worth $152,017,000 after purchasing an additional 47,469 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Roth Capital set a $500.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Robert W. Baird set a $490.00 target price on shares of Quanta Services in a report on Friday. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Finally, Sanford C. Bernstein downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective for the company. in a report on Monday, July 28th. Thirteen 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.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $438.64.

Quanta Services Trading Up 0.3%

Shares of NYSE PWR opened at $450.65 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 $469.43. The firm has a 50 day moving average price of $409.56 and a two-hundred day moving average price of $377.09. The stock has a market cap of $67.15 billion, a P/E ratio of 69.76, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the prior year, the company posted $2.72 earnings per share. Quanta Services’s revenue for the quarter was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors 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 dividend payout ratio is currently 5.93%.

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.