Assetmark Inc. Grows Stake in Quanta Services, Inc. $PWR

Assetmark Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 29.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,235 shares of the construction company’s stock after purchasing an additional 1,200 shares during the quarter. Assetmark Inc.’s holdings in Quanta Services were worth $1,979,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PWR. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Quanta Services during the second quarter worth about $650,960,000. Nuveen LLC purchased a new position in Quanta Services during the first quarter valued at $404,288,000. Amundi grew its stake in Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after acquiring an additional 788,079 shares in the last quarter. Jennison Associates LLC grew its stake in Quanta Services by 433.3% during the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock valued at $157,839,000 after acquiring an additional 504,540 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after acquiring an additional 407,878 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of several research analyst reports. Argus set a $540.00 target price on shares of Quanta Services in a research note on Friday. Truist Financial raised their target price on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. BMO Capital Markets cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and raised their target price for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Sanford C. Bernstein cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price for the company. in a research note on Monday, July 28th. Finally, Stifel Nicolaus set a $495.00 price objective on shares of Quanta Services in a research report on Monday. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $438.64.

Quanta Services Price Performance

Quanta Services stock opened at $438.25 on Wednesday. The firm has a 50-day moving average price of $410.64 and a 200-day moving average price of $378.29. The firm has a market capitalization of $65.30 billion, a PE ratio of 67.84, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04. 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, Inc. has a 12-month low of $227.08 and a 12-month high of $469.43.

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

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 5.93%.

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.