Quanta Services, Inc. $PWR Shares Sold by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 2.7% during the second quarter, HoldingsChannel reports. The firm owned 2,182 shares of the construction company’s stock after selling 61 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Quanta Services were worth $825,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new stake in Quanta Services during the second quarter worth about $650,960,000. Nuveen LLC acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $404,288,000. Amundi grew its position in shares of Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after purchasing an additional 788,079 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Quanta Services by 433.3% during the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock valued at $157,839,000 after buying an additional 504,540 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after buying an additional 407,878 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Roth Capital reaffirmed a “buy” rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. TD Cowen increased their price target on shares of Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a research note on Wednesday, October 8th. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Finally, Citigroup increased their price target on shares of Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $408.45.

Quanta Services Trading Down 3.0%

Shares of NYSE:PWR opened at $417.15 on Monday. The company has a 50 day moving average of $391.79 and a 200-day moving average of $356.25. The firm has a market cap of $62.16 billion, a P/E ratio of 64.57, a P/E/G ratio of 2.47 and a beta of 1.04. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $443.97. 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 issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

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.