FY2024 EPS Forecast for Quanta Services Raised by Analyst

Quanta Services, Inc. (NYSE:PWR) – DA Davidson lifted their FY2024 earnings per share estimates for shares of Quanta Services in a research report issued to clients and investors on Monday, November 4th. DA Davidson analyst B. Thielman now forecasts that the construction company will post earnings of $7.87 per share for the year, up from their prior estimate of $7.78. The consensus estimate for Quanta Services’ current full-year earnings is $7.82 per share. DA Davidson also issued estimates for Quanta Services’ Q4 2024 earnings at $2.41 EPS and FY2025 earnings at $9.34 EPS.

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

A number of other equities research analysts have also issued reports on PWR. Citigroup boosted their target price on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Stifel Nicolaus upped their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. B. Riley raised their target price 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. Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Finally, TD Cowen raised their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $314.62 on Tuesday. The company has a market capitalization of $46.44 billion, a PE ratio of 58.05 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a fifty day moving average of $291.95 and a 200-day moving average of $273.96. Quanta Services has a one year low of $163.93 and a one year high of $317.91.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s dividend payout ratio is currently 6.64%.

Insider Activity at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’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 sale, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the completion of the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quanta Services

A number of hedge funds have recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new position in Quanta Services during the 1st quarter valued at $25,000. Salomon & Ludwin LLC acquired a new stake in Quanta Services during the first quarter worth about $26,000. Cambridge Trust Co. bought a new position in Quanta Services during the first quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new position in Quanta Services in the 2nd quarter valued at approximately $33,000. Finally, Quest Partners LLC bought a new stake in shares of Quanta Services in the 2nd quarter worth approximately $35,000. 90.49% of the stock is currently owned by institutional investors.

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.