Quanta Services, Inc. $PWR Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lowered its position in Quanta Services, Inc. (NYSE:PWR) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,730 shares of the construction company’s stock after selling 223 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Quanta Services were worth $4,435,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. increased its position in shares of Quanta Services by 3.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after buying an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Quanta Services by 1.1% in the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after buying an additional 34 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its position in shares of Quanta Services by 3.4% in the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company’s stock valued at $277,000 after buying an additional 36 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Quanta Services by 2.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company’s stock valued at $365,000 after buying an additional 37 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Quanta Services by 15.6% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company’s stock valued at $72,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $378.31 on Wednesday. The company has a market cap of $56.37 billion, a P/E ratio of 58.56, a PEG ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The business’s 50-day simple moving average is $387.69 and its 200 day simple moving average is $336.52.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the business posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services’s payout ratio is currently 6.19%.

Analysts Set New Price Targets

A number of analysts recently commented on PWR shares. Northland Capmk lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Stifel Nicolaus increased their price objective on Quanta Services from $411.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, August 4th. DA Davidson increased their price objective on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Finally, Northland Securities lowered Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target on the stock. in a research note on Wednesday, July 2nd. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $397.18.

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.