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

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

A number of other large investors have also added to or reduced their stakes in the stock. NewSquare Capital LLC increased its stake in shares of Quanta Services by 320.8% in the second quarter. NewSquare Capital LLC now owns 101 shares of the construction company’s stock worth $38,000 after purchasing an additional 77 shares in the last quarter. Holistic Financial Partners purchased a new position in Quanta Services during the second quarter valued at approximately $233,000. Bridgewater Advisors Inc. lifted its position in Quanta Services by 1.4% during the second quarter. Bridgewater Advisors Inc. now owns 2,987 shares of the construction company’s stock valued at $1,215,000 after purchasing an additional 40 shares during the last quarter. Peregrine Asset Advisers Inc. lifted its position in Quanta Services by 74.3% during the second quarter. Peregrine Asset Advisers Inc. now owns 33,949 shares of the construction company’s stock valued at $12,835,000 after purchasing an additional 14,472 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Quanta Services by 18.5% during the second quarter. Bank of Montreal Can now owns 250,819 shares of the construction company’s stock valued at $95,627,000 after purchasing an additional 39,219 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.3%

NYSE:PWR opened at $450.65 on Tuesday. The company has a fifty day moving average of $409.56 and a 200 day moving average of $377.09. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $469.43. 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 market capitalization of $67.15 billion, a P/E ratio of 69.76, a P/E/G ratio of 2.66 and a beta of 1.04.

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

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s payout ratio is presently 5.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. DA Davidson lifted their target price 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. Citigroup lifted their target price on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research report on Friday. Stifel Nicolaus set a $495.00 target price on shares of Quanta Services in a research report on Monday. Argus set a $540.00 price objective on shares of Quanta Services in a report on Friday. Finally, Sanford C. Bernstein lowered 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 analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $438.64.

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.