Daymark Wealth Partners LLC Decreases Stake in Quanta Services, Inc. $PWR

Daymark Wealth Partners LLC trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,199 shares of the construction company’s stock after selling 3,078 shares during the quarter. Quanta Services accounts for 0.8% of Daymark Wealth Partners LLC’s portfolio, making the stock its 29th biggest holding. Daymark Wealth Partners LLC’s holdings in Quanta Services were worth $22,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Old Port Advisors increased its position in Quanta Services by 0.7% during the second quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after acquiring an additional 26 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of Quanta Services by 1.2% in the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock worth $851,000 after acquiring an additional 26 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its stake in Quanta Services by 3.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after buying an additional 34 shares during the last quarter. Finally, Eastern Bank boosted its stake in Quanta Services by 23.5% during the second quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after buying an additional 35 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PWR shares. Stifel Nicolaus upped their price objective on Quanta Services from $432.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Citigroup lifted their price target on Quanta Services from $490.00 to $517.00 and gave the company a “buy” rating in a report on Monday, October 20th. Northland Securities downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 target price on the stock. in a research note on Wednesday, July 2nd. Finally, TD Cowen increased their price target on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $414.09.

Quanta Services Price Performance

PWR stock opened at $438.74 on Wednesday. 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 business has a 50 day simple moving average of $403.72 and a 200-day simple moving average of $371.31. The firm has a market capitalization of $65.38 billion, a PE ratio of 67.92, a price-to-earnings-growth ratio of 2.62 and a beta of 1.04. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $447.17.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.55 billion. During the same period in the prior year, the firm posted $1.90 earnings per share. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced 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 of this dividend was Wednesday, October 1st. Quanta Services’s dividend payout ratio is 6.19%.

Quanta Services 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.