Quanta Services, Inc. $PWR Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 10.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 58,093 shares of the construction company’s stock after selling 6,482 shares during the quarter. Moran Wealth Management LLC’s holdings in Quanta Services were worth $21,964,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Brighton Jones LLC acquired a new position in Quanta Services during the fourth quarter worth $298,000. Farther Finance Advisors LLC raised its holdings in Quanta Services by 60.0% during the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company’s stock worth $404,000 after purchasing an additional 588 shares during the last quarter. Fifth Third Bancorp raised its holdings in Quanta Services by 9.0% during the first quarter. Fifth Third Bancorp now owns 5,491 shares of the construction company’s stock worth $1,396,000 after purchasing an additional 453 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company’s stock worth $17,480,000 after purchasing an additional 2,479 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new position in Quanta Services during the first quarter worth $1,609,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PWR has been the subject of several research reports. Jefferies Financial Group raised Quanta Services from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $398.00 to $469.00 in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a report on Wednesday, October 8th. Northland Securities downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target for the company. in a research report on Wednesday, July 2nd. TD Cowen raised their price target on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Citigroup raised their price target on Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Fourteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $408.45.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $431.61 on Tuesday. The company has a market cap of $64.31 billion, a P/E ratio of 66.81, a P/E/G ratio of 2.47 and a beta of 1.04. 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 $443.97. The business has a fifty day simple moving average of $392.56 and a 200-day simple moving average of $357.49.

Quanta Services (NYSE:PWR) last announced 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. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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