Norris Perne & French LLP MI Has $28.32 Million Holdings in Quanta Services, Inc. $PWR

Norris Perne & French LLP MI cut its stake in Quanta Services, Inc. (NYSE:PWR) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,890 shares of the construction company’s stock after selling 53 shares during the period. Quanta Services comprises approximately 2.0% of Norris Perne & French LLP MI’s holdings, making the stock its 20th largest holding. Norris Perne & French LLP MI’s holdings in Quanta Services were worth $28,315,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Old Port Advisors grew its position in Quanta Services by 0.7% during the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after acquiring an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock worth $242,000 after acquiring an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in Quanta Services by 1.1% during the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock worth $792,000 after acquiring an additional 34 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its position in Quanta Services by 3.4% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company’s stock worth $277,000 after acquiring an additional 36 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its position in Quanta Services by 2.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company’s stock worth $365,000 after acquiring an additional 37 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

PWR stock opened at $406.00 on Monday. The business’s fifty day moving average is $388.49 and its 200-day moving average is $345.37. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The company has a market cap of $60.50 billion, a P/E ratio of 62.85, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The company 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 firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PWR shares. TD Cowen increased their price target on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Evercore ISI upped their price objective on Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. JPMorgan Chase & Co. upped their price objective on Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Roth Capital reaffirmed a “buy” rating and set a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Finally, Jefferies Financial Group raised Quanta Services from a “hold” rating to a “buy” rating and upped their price objective for the stock from $398.00 to $469.00 in a report on Wednesday, September 24th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $404.27.

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.