Quanta Services, Inc. $PWR Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in Quanta Services, Inc. (NYSE:PWR) by 22.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,722 shares of the construction company’s stock after selling 3,157 shares during the quarter. QRG Capital Management Inc.’s holdings in Quanta Services were worth $4,054,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services during the first quarter worth about $25,000. SOA Wealth Advisors LLC. increased its position in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares during the period. WPG Advisers LLC purchased a new position in shares of Quanta Services during the 1st quarter worth approximately $31,000. AlphaQuest LLC acquired a new stake in shares of Quanta Services in the 1st quarter valued at approximately $35,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Quanta Services in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PWR. Wall Street Zen cut Quanta Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Quanta Services in a report on Saturday, September 27th. UBS Group boosted their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Northland Capmk lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $345.00 to $392.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $404.27.

Quanta Services Stock Up 1.7%

PWR stock opened at $428.33 on Tuesday. 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 50 day simple moving average is $390.00 and its 200-day simple moving average is $351.75. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $431.24. The firm has a market capitalization of $63.83 billion, a PE ratio of 66.30, a P/E/G ratio of 2.50 and a beta of 1.04.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The firm 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%.Quanta Services’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Quanta Services Company 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.