Despite recent market volatility, Quanta Services, Inc. (NYSE:PWR) continues to attract attention from institutional investors and Wall Street analysts. Ten Capital Wealth Advisors LLC, a leading investment firm, recently increased its position in Quanta Services by 2.1% during the second quarter, acquiring an additional 77 shares of the construction company’s stock. The firm’s holdings in Quanta Services were valued at $745,000 at the end of the reporting period.
This move by Ten Capital Wealth Advisors LLC reflects the growing confidence in Quanta Services, echoed by other institutional investors and hedge funds. J.W. Cole Advisors Inc. and Greenwich Wealth Management LLC both saw slight increases in their positions, indicating steady interest in the construction company.
In addition to institutional investors, Wall Street analysts have also expressed optimism about the future of Quanta Services. Credit Suisse Group, Robert W. Baird, and Argus have all raised their target prices on the stock, emphasizing an “outperform” rating. Citigroup increased their price objective, while StockNews.com initiated coverage with a “hold” rating. The consensus among analysts suggests a positive outlook for Quanta Services, with a moderate buy rating and an average price target of $205.27.
These developments come as Quanta Services prepares to release its earnings results for the current year. Despite missing the consensus estimate for the previous quarter, the construction company remains a strong contender in the industry. With a net margin of 3.16% and a return on equity of 15.48%, analysts expect Quanta Services to post a solid earnings per share (EPS) of 6.46 for the year.
Furthermore, Quanta Services recently announced a quarterly dividend, providing additional incentives for investors. The company’s dividend payout ratio (DPR) currently stands at 8.16%.
Quanta Services, Inc. is a leading provider of infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries. Their Electric Power Infrastructure Solutions segment focuses on the design, construction, and maintenance of electric power transmission and distribution infrastructure. With its strong financial performance, positive analyst sentiment, and growing institutional interest, Quanta Services is poised for continued success in the market.
What is the current position of Ten Capital Wealth Advisors LLC in Quanta Services?
Ten Capital Wealth Advisors LLC increased its position in Quanta Services by 2.1% during the second quarter, acquiring an additional 77 shares of the construction company’s stock. Their holdings in Quanta Services were valued at $745,000 at the end of the reporting period.
What is the consensus rating and price target for Quanta Services?
The consensus among Wall Street analysts for Quanta Services is a “Moderate Buy” rating, with an average price target of $205.27.
What is the dividend payout ratio for Quanta Services?
Quanta Services currently has a dividend payout ratio (DPR) of 8.16%.
What are the key highlights of Quanta Services’ financial performance?
Quanta Services had a net margin of 3.16% and a return on equity of 15.48%. Despite missing the consensus estimate for the previous quarter, analysts expect the company to post solid earnings per share (EPS) of 6.46 for the current year.