Quanta Services, Inc. $PWR Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,447 shares of the construction company’s stock after selling 43 shares during the period. Checchi Capital Advisers LLC’s holdings in Quanta Services were worth $547,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. SCP Investment LP acquired a new position in shares of Quanta Services during the first quarter worth $966,000. Brighton Jones LLC acquired a new position in shares of Quanta Services during the 4th quarter worth about $298,000. Swedbank AB raised its position in shares of Quanta Services by 50.5% during the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock worth $304,269,000 after acquiring an additional 401,418 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company’s stock worth $17,480,000 after purchasing an additional 2,479 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Quanta Services by 60.0% in the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company’s stock valued at $404,000 after purchasing an additional 588 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Northland Securities cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target for the company. in a research report on Wednesday, July 2nd. Citigroup raised their price objective on Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Finally, Northland Capmk cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $404.27.

Quanta Services Stock Performance

NYSE PWR opened at $428.33 on Tuesday. The firm has a market cap of $63.83 billion, a P/E ratio of 66.30, a P/E/G ratio of 2.50 and a beta of 1.04. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $431.24. The business’s 50-day moving average price is $390.00 and its 200 day moving average price is $351.75. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

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

Quanta Services Dividend Announcement

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

Quanta Services 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.