Park Place Capital Corp Sells 370 Shares of Quanta Services, Inc. $PWR

Park Place Capital Corp lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.6% in the second quarter, Holdings Channel reports. The institutional investor owned 6,286 shares of the construction company’s stock after selling 370 shares during the period. Park Place Capital Corp’s holdings in Quanta Services were worth $2,340,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new position in Quanta Services in the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new position in Quanta Services in the 1st quarter valued at approximately $31,000. Webster Bank N. A. raised its holdings in Quanta Services by 57.8% in the 2nd quarter. Webster Bank N. A. now owns 131 shares of the construction company’s stock valued at $50,000 after buying an additional 48 shares during the last quarter. AlphaQuest LLC bought a new position in Quanta Services in the 1st quarter valued at approximately $35,000. Finally, ORG Partners LLC raised its holdings in Quanta Services by 46.7% during the 2nd quarter. ORG Partners LLC now owns 154 shares of the construction company’s stock worth $57,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PWR shares. Roth Capital restated a “buy” rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Wall Street Zen lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Evercore ISI raised their price target on shares of 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. raised their price target on shares of Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, The Goldman Sachs Group restated a “buy” rating and set a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $404.27.

Quanta Services Stock Performance

Shares of PWR stock opened at $409.12 on Tuesday. The company has a market cap of $60.96 billion, a price-to-earnings ratio of 63.33, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. 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 firm has a 50 day moving average of $388.67 and a 200-day moving average of $346.40.

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

Quanta Services Dividend Announcement

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

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.