Quanta Services, Inc. $PWR Shares Sold by Chelsea Counsel Co.

Chelsea Counsel Co. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,398 shares of the construction company’s stock after selling 300 shares during the period. Quanta Services comprises 3.4% of Chelsea Counsel Co.’s holdings, making the stock its 10th largest holding. Chelsea Counsel Co.’s holdings in Quanta Services were worth $6,956,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PWR. Cullen Frost Bankers Inc. purchased a new position in Quanta Services in the first quarter valued at about $25,000. WPG Advisers LLC bought a new stake in Quanta Services during the 1st quarter valued at about $31,000. AlphaQuest LLC bought a new position in shares of Quanta Services in the first quarter worth approximately $35,000. Zions Bancorporation National Association UT bought a new position in Quanta Services during the first quarter valued at $40,000. Finally, OLD Second National Bank of Aurora purchased a new position in Quanta Services in the 1st quarter worth about $42,000. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PWR. Wall Street Zen lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Truist Financial lifted their price objective on Quanta Services from $375.00 to $472.00 and gave the stock a “buy” rating in a report on Monday, August 4th. BMO Capital Markets lowered Quanta Services from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Northland Securities downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price objective on the stock. in a research note on Wednesday, July 2nd. Finally, DA Davidson boosted their target price on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $404.27.

Quanta Services Stock Up 1.4%

Shares of PWR stock opened at $414.71 on Wednesday. The company has a market capitalization of $61.80 billion, a price-to-earnings ratio of 64.20, a PEG ratio of 2.43 and a beta of 1.01. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The company’s fifty day moving average price is $389.07 and its 200-day moving average price is $346.88.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the firm earned $1.90 EPS. The company’s revenue for the quarter 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. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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%.

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.