Quanta Services, Inc. $PWR Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,199 shares of the construction company’s stock after selling 3,078 shares during the period. Quanta Services comprises about 0.8% of Daymark Wealth Partners LLC’s holdings, making the stock its 29th biggest position. Daymark Wealth Partners LLC’s holdings in Quanta Services were worth $22,004,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after acquiring an additional 407,878 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Quanta Services during the 2nd quarter valued at $650,960,000. Nuveen LLC acquired a new position in shares of Quanta Services during the 1st quarter valued at $404,288,000. Northern Trust Corp lifted its holdings in shares of Quanta Services by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock valued at $392,839,000 after acquiring an additional 56,081 shares in the last quarter. Finally, Amundi lifted its holdings in Quanta Services by 188.3% in the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after buying an additional 788,079 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PWR has been the topic of a number of recent analyst reports. TD Cowen upped their target price on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. DA Davidson upped their target price on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Seaport Res Ptn upgraded shares of Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Mizuho set a $415.00 price objective on shares of Quanta Services in a report on Tuesday. Finally, Evercore ISI increased their target price on shares of Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $414.09.

Quanta Services Stock Down 0.7%

Shares of PWR opened at $438.74 on Wednesday. The firm has a market capitalization of $65.38 billion, a P/E ratio of 67.92, a P/E/G ratio of 2.62 and a beta of 1.04. The company has a 50-day simple moving average of $403.72 and a 200-day simple moving average of $371.31. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $447.17. 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 (NYSE:PWR) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share 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 firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend payout ratio is currently 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.