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

Fifth Third Wealth Advisors LLC lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Quanta Services during the 2nd quarter worth approximately $650,960,000. Nuveen LLC acquired a new stake in Quanta Services in the 1st quarter valued at approximately $404,288,000. Amundi increased its holdings in Quanta Services by 188.3% in the 1st 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 increased its holdings in Quanta Services by 433.3% in the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock valued at $157,839,000 after purchasing an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $417.15 on Monday. The stock has a market cap of $62.16 billion, a P/E ratio of 64.57, a price-to-earnings-growth ratio of 2.47 and a beta of 1.04. The company has a fifty day simple moving average of $391.79 and a 200-day simple moving average of $356.25. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-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 released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Analyst Ratings Changes

PWR has been the subject of several research reports. TD Cowen lifted their target price on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Citigroup lifted their target price on shares of Quanta Services from $432.00 to $492.00 and gave the company a “buy” rating in a report on Monday, July 28th. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Evercore ISI raised their price target on shares of Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, BMO Capital Markets cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and raised their price target for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $408.45.

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.