Quanta Services, Inc. to Post Q3 2024 Earnings of $2.26 Per Share, Northland Capmk Forecasts (NYSE:PWR)

Quanta Services, Inc. (NYSE:PWR) – Investment analysts at Northland Capmk lowered their Q3 2024 earnings per share estimates for shares of Quanta Services in a research report issued on Monday, September 9th. Northland Capmk analyst G. Richard now expects that the construction company will earn $2.26 per share for the quarter, down from their previous estimate of $2.76. The consensus estimate for Quanta Services’ current full-year earnings is $7.80 per share. Northland Capmk also issued estimates for Quanta Services’ Q4 2024 earnings at $2.65 EPS, Q2 2025 earnings at $2.13 EPS and Q3 2025 earnings at $2.69 EPS.

PWR has been the topic of several other research reports. Northland Securities upped their price target on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. TD Cowen upped their price target on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 8th. B. Riley boosted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, The Goldman Sachs Group boosted their target price on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.50.

Quanta Services Stock Performance

Shares of PWR stock opened at $263.09 on Wednesday. The firm has a 50 day moving average of $259.42 and a two-hundred day moving average of $259.75. The stock has a market capitalization of $38.51 billion, a PE ratio of 50.99 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. Quanta Services has a 52 week low of $153.74 and a 52 week high of $286.87.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 earnings per share.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by company insiders.

Institutional Trading of Quanta Services

Several large investors have recently modified their holdings of the business. EntryPoint Capital LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $25,000. Private Ocean LLC purchased a new stake in Quanta Services in the 1st quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services in the 1st quarter valued at $26,000. Cambridge Trust Co. purchased a new position in shares of Quanta Services during the 1st quarter worth $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in Quanta Services in the 2nd quarter valued at about $33,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Company Profile

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.