Quanta Services FY2024 EPS Estimate Raised by DA Davidson

Quanta Services, Inc. (NYSE:PWR) – Investment analysts at DA Davidson increased their FY2024 earnings estimates for shares of Quanta Services in a research report issued on Monday, November 4th. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings of $7.87 per share for the year, up from their prior forecast of $7.78. The consensus estimate for Quanta Services’ current full-year earnings is $7.83 per share. DA Davidson also issued estimates for Quanta Services’ Q4 2024 earnings at $2.41 EPS and FY2025 earnings at $9.34 EPS.

Several other research analysts have also weighed in on PWR. B. Riley raised their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus increased their target price on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group boosted their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird lifted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Stock Down 1.2 %

PWR stock opened at $310.82 on Tuesday. The company has a market capitalization of $45.88 billion, a P/E ratio of 57.35 and a beta of 1.01. The firm has a 50 day simple moving average of $292.81 and a 200-day simple moving average of $274.22. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services has a twelve month low of $163.93 and a twelve month high of $317.91.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. Quanta Services’s revenue for the quarter was up 15.5% on a year-over-year basis.

Institutional Investors Weigh In On Quanta Services

Institutional investors and hedge funds have recently modified their holdings of the stock. Allen Investment Management LLC lifted its position in shares of Quanta Services by 1,418.0% in the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock valued at $8,676,000 after acquiring an additional 31,196 shares in the last quarter. Vanguard Group Inc. raised its stake in Quanta Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after purchasing an additional 105,355 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Quanta Services by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after buying an additional 1,981 shares during the period. Cetera Investment Advisers grew its holdings in shares of Quanta Services by 115.0% during the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after buying an additional 21,003 shares in the last quarter. Finally, Czech National Bank grew its holdings in shares of Quanta Services by 8.9% during the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after buying an additional 2,264 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

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.