Hager Investment Management Services LLC Lowers Stock Holdings in Quanta Services, Inc. $PWR

Hager Investment Management Services LLC trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,386 shares of the construction company’s stock after selling 95 shares during the quarter. Quanta Services makes up approximately 1.4% of Hager Investment Management Services LLC’s portfolio, making the stock its 24th biggest holding. Hager Investment Management Services LLC’s holdings in Quanta Services were worth $2,414,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SOA Wealth Advisors LLC. raised its stake in Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares in the last quarter. Ameriflex Group Inc. raised its stake in Quanta Services by 93.0% in 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. Cullen Frost Bankers Inc. purchased a new stake in Quanta Services in the first quarter valued at approximately $25,000. WPG Advisers LLC purchased a new stake in Quanta Services in the first quarter valued at approximately $31,000. Finally, Webster Bank N. A. raised its stake in Quanta Services by 57.8% in the second quarter. Webster Bank N. A. now owns 131 shares of the construction company’s stock valued at $50,000 after purchasing an additional 48 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $443.56 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $66.09 billion, a P/E ratio of 68.66, a P/E/G ratio of 2.50 and a beta of 1.04. The business has a fifty day simple moving average of $390.85 and a two-hundred day simple moving average of $352.87. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $443.97.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. DA Davidson increased their price target on shares of Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. UBS Group increased their price target on shares of Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a research report on Friday, July 25th. BMO Capital Markets cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and increased their price target for the company from $352.00 to $400.00 in a research report 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 price target on the stock. in a research report on Monday, July 28th. Finally, Truist Financial increased their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $406.50.

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.