Quanta Services, Inc. $PWR Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,010,712 shares of the construction company’s stock after selling 42,270 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.68% of Quanta Services worth $382,130,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Quanta Services in the first quarter valued at about $25,000. Copia Wealth Management lifted its stake in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after buying an additional 43 shares during the last quarter. Solstein Capital LLC increased its position in Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Quanta Services in the first quarter worth $31,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $438.25 on Wednesday. The business has a 50-day moving average of $410.64 and a two-hundred day moving average of $378.29. The firm has a market capitalization of $65.30 billion, a PE ratio of 67.84, a P/E/G ratio of 2.66 and a beta of 1.04. 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 12 month low of $227.08 and a 12 month high of $469.43.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared 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 5.93%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Stifel Nicolaus set a $495.00 price objective on Quanta Services in a research note on Monday. UBS Group raised their price target on shares of Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Roth Capital set a $500.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a research report on Friday. Sanford C. Bernstein lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price on the stock. in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $438.64.

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.