Quanta Services, Inc. $PWR Shares Sold by Cwm LLC

Cwm LLC lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 5,709 shares of the construction company’s stock after selling 61 shares during the quarter. Cwm LLC’s holdings in Quanta Services were worth $2,159,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Old Port Advisors increased its position in Quanta Services by 0.7% in the 2nd 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 period. Pinnacle Wealth Planning Services Inc. increased its position in Quanta Services by 3.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after acquiring an additional 32 shares during the period. Frank Rimerman Advisors LLC increased its position in Quanta Services by 1.1% in the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after acquiring an additional 34 shares during the period. Eastern Bank increased its position in Quanta Services by 23.5% in the 2nd quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after acquiring an additional 35 shares during the period. Finally, Legacy Capital Wealth Partners LLC increased its position in Quanta Services by 3.4% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company’s stock valued at $277,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PWR. JPMorgan Chase & Co. boosted their price target on Quanta Services from $395.00 to $436.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group upgraded Quanta Services from a “hold” rating to a “buy” rating and boosted their price target for the company from $398.00 to $469.00 in a research report on Wednesday, September 24th. Roth Capital restated a “buy” rating and issued a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a report on Wednesday, October 8th. Finally, Evercore ISI lifted their price objective on Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Fourteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $410.45.

Quanta Services Price Performance

Shares of PWR opened at $434.65 on Friday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $446.60. The stock’s 50 day moving average is $396.43 and its two-hundred day moving average is $361.71. The firm has a market capitalization of $64.77 billion, a PE ratio of 67.28, a P/E/G ratio of 2.57 and a beta of 1.04. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

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

Quanta Services Announces Dividend

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

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.