Quanta Services, Inc. $PWR Shares Sold by Norris Perne & French LLP MI

Norris Perne & French LLP MI trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 0.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,890 shares of the construction company’s stock after selling 53 shares during the quarter. Quanta Services makes up 2.0% of Norris Perne & French LLP MI’s holdings, making the stock its 20th largest holding. Norris Perne & French LLP MI owned about 0.05% of Quanta Services worth $28,315,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new position in shares of Quanta Services during the first quarter valued at $25,000. WPG Advisers LLC acquired a new stake in shares of Quanta Services in the first quarter worth about $31,000. AlphaQuest LLC acquired a new stake in shares of Quanta Services in the first quarter worth about $35,000. Zions Bancorporation National Association UT acquired a new stake in shares of Quanta Services in the first quarter worth about $40,000. Finally, OLD Second National Bank of Aurora acquired a new stake in shares of Quanta Services in the first quarter worth about $42,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Up 1.4%

Shares of PWR opened at $406.00 on Monday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $60.50 billion, a price-to-earnings ratio of 62.85, a P/E/G ratio of 2.41 and a beta of 1.01. The stock’s 50-day moving average price is $388.49 and its 200 day moving average price is $345.37.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the company posted $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. As a group, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is 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 presently 6.19%.

Analyst Ratings Changes

Several research firms recently weighed in on PWR. Stifel Nicolaus boosted their price objective on Quanta Services from $411.00 to $432.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. JPMorgan Chase & Co. boosted their price objective on Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Evercore ISI boosted their price objective on Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Roth Capital reissued a “buy” rating and set a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Finally, TD Cowen boosted their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $404.27.

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.