Greenleaf Trust Sells 146 Shares of Quanta Services, Inc. $PWR

Greenleaf Trust reduced its position in Quanta Services, Inc. (NYSE:PWR) by 4.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,100 shares of the construction company’s stock after selling 146 shares during the quarter. Greenleaf Trust’s holdings in Quanta Services were worth $1,172,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $298,000. Merit Financial Group LLC lifted its holdings in shares of Quanta Services by 15.9% in the 1st quarter. Merit Financial Group LLC now owns 1,767 shares of the construction company’s stock worth $449,000 after acquiring an additional 243 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Quanta Services by 0.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 17,713 shares of the construction company’s stock worth $4,502,000 after purchasing an additional 140 shares during the last quarter. Teamwork Financial Advisors LLC lifted its stake in Quanta Services by 23.9% in the first quarter. Teamwork Financial Advisors LLC now owns 11,614 shares of the construction company’s stock worth $2,952,000 after purchasing an additional 2,244 shares during the last quarter. Finally, Nixon Peabody Trust Co. bought a new stake in Quanta Services in the first quarter worth $4,274,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $421.01 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The company has a market cap of $62.73 billion, a PE ratio of 65.17, a P/E/G ratio of 2.46 and a beta of 1.04. The business has a 50 day moving average of $389.41 and a 200 day moving average of $347.39.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS 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 business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the business earned $1.90 EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio is currently 6.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Northland Securities lowered Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 target price for the company. in a research note on Wednesday, July 2nd. UBS Group boosted their price objective on Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a research report on Friday, July 25th. BMO Capital Markets downgraded Quanta Services from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Truist Financial upped their price target on shares of Quanta Services from $375.00 to $472.00 and gave the company a “buy” rating in a report on Monday, August 4th. Finally, Wall Street Zen lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $404.27.

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.