Meridian Management Co. Sells 799 Shares of Quanta Services, Inc. $PWR

Meridian Management Co. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,827 shares of the construction company’s stock after selling 799 shares during the period. Meridian Management Co.’s holdings in Quanta Services were worth $3,991,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Brighton Jones LLC bought a new stake in Quanta Services during the 4th quarter worth about $298,000. DAVENPORT & Co LLC lifted its position in Quanta Services by 2.9% during the 1st quarter. DAVENPORT & Co LLC now owns 9,719 shares of the construction company’s stock worth $2,470,000 after buying an additional 272 shares in the last quarter. Rossby Financial LCC bought a new stake in Quanta Services during the 1st quarter worth about $53,000. Novem Group bought a new stake in Quanta Services during the 1st quarter worth about $218,000. Finally, Teacher Retirement System of Texas lifted its position in Quanta Services by 1,464.7% during the 1st quarter. Teacher Retirement System of Texas now owns 21,577 shares of the construction company’s stock worth $5,484,000 after buying an additional 20,198 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Down 0.8%

Shares of PWR opened at $450.16 on Friday. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $469.43. The firm has a market cap of $67.08 billion, a P/E ratio of 69.68, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04. The firm’s 50-day simple moving average is $408.11 and its 200 day simple moving average is $375.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 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 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders 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 yield of 0.1%. Quanta Services’s payout ratio is currently 5.93%.

Wall Street Analyst Weigh In

PWR has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $432.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Mizuho set a $415.00 price objective on shares of Quanta Services in a research note on Tuesday. Citigroup boosted their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Finally, Roth Capital set a $500.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $435.55.

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.