Quanta Services, Inc. $PWR Shares Acquired by Patten & Patten Inc. TN

Patten & Patten Inc. TN increased its position in Quanta Services, Inc. (NYSE:PWR) by 48.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,060 shares of the construction company’s stock after acquiring an additional 675 shares during the period. Patten & Patten Inc. TN’s holdings in Quanta Services were worth $779,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PWR. Brighton Jones LLC purchased a new stake in shares of Quanta Services during the fourth quarter valued at $298,000. Wealth Enhancement Advisory Services LLC lifted its stake in Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company’s stock worth $17,480,000 after acquiring an additional 2,479 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in Quanta Services in the 1st quarter worth about $442,000. Sagespring Wealth Partners LLC lifted its stake in Quanta Services by 19.7% in the 1st quarter. Sagespring Wealth Partners LLC now owns 802 shares of the construction company’s stock worth $206,000 after acquiring an additional 132 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Quanta Services by 4.7% in the 1st quarter. QRG Capital Management Inc. now owns 13,879 shares of the construction company’s stock worth $3,528,000 after acquiring an additional 623 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of PWR stock opened at $437.38 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $446.60. The stock’s 50-day moving average is $395.46 and its two-hundred day moving average is $359.82. The firm has a market cap of $65.17 billion, a P/E ratio of 67.71, a PEG ratio of 2.59 and a beta of 1.04.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was 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%.

Analysts Set New Price Targets

PWR has been the subject of several research analyst reports. UBS Group increased their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Northland Securities downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price objective for the company. in a research note on Wednesday, July 2nd. Wall Street Zen downgraded Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Stifel Nicolaus increased their price objective on Quanta Services from $432.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Finally, BMO Capital Markets lowered Quanta Services from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Fourteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $410.45.

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.