Keybank National Association OH Sells 525 Shares of Quanta Services, Inc. $PWR

Keybank National Association OH decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,825 shares of the construction company’s stock after selling 525 shares during the quarter. Keybank National Association OH’s holdings in Quanta Services were worth $2,202,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Old Port Advisors boosted its stake in Quanta Services by 0.7% during the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after purchasing an additional 26 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in Quanta Services by 1.2% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after purchasing an additional 26 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its stake in Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after purchasing an additional 32 shares during the period. Frank Rimerman Advisors LLC boosted its stake in Quanta Services by 1.1% during the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after purchasing an additional 34 shares during the period. Finally, Eastern Bank boosted its stake in Quanta Services by 23.5% during the 2nd quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after purchasing an additional 35 shares during the period. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PWR shares. Mizuho set a $415.00 price target on Quanta Services in a report on Tuesday. Jefferies Financial Group raised Quanta Services from a “hold” rating to a “buy” rating and upped their price target for the company from $398.00 to $469.00 in a report on Wednesday, September 24th. Stifel Nicolaus upped their price target on Quanta Services from $432.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $435.55.

Quanta Services Trading Down 0.8%

Shares of PWR opened at $450.16 on Friday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $469.43. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $408.11 and a 200-day simple moving average of $375.05. The stock has a market cap of $67.08 billion, a PE ratio of 69.68, a PEG ratio of 2.66 and a beta of 1.04.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the prior year, the firm posted $2.72 EPS. Quanta Services’s quarterly revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were issued 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 dividend payout ratio is presently 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.