Atria Wealth Solutions Inc. Has $2.13 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Quanta Services, Inc. by 29.8%, now holding 8,372 shares valued at approximately $2.13 million.
• Quanta Services reported a strong earnings performance with an EPS of $2.48, exceeding estimates by $0.04, and a revenue of $6.77 billion for the most recent quarter.
• The company declared a quarterly dividend of $0.10 per share, resulting in an annualized dividend yield of 0.1%.

Atria Wealth Solutions Inc. lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 29.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,372 shares of the construction company's stock after selling 3,556 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Quanta Services were worth $2,128,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Legacy Capital Wealth Partners LLC increased its holdings in Quanta Services by 3.4% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock valued at $277,000 after purchasing an additional 36 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in Quanta Services by 2.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock valued at $365,000 after purchasing an additional 37 shares in the last quarter. Kerntke Otto McGlone Wealth Management Group increased its stake in shares of Quanta Services by 3.0% in the 1st quarter. Kerntke Otto McGlone Wealth Management Group now owns 1,356 shares of the construction company's stock valued at $345,000 after buying an additional 39 shares during the period. HHM Wealth Advisors LLC increased its stake in shares of Quanta Services by 16.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 280 shares of the construction company's stock valued at $71,000 after buying an additional 40 shares during the period. Finally, Quent Capital LLC increased its stake in shares of Quanta Services by 3.2% in the 1st quarter. Quent Capital LLC now owns 1,362 shares of the construction company's stock valued at $346,000 after buying an additional 42 shares during the period. Institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

PWR has been the subject of several research reports. Piper Sandler reissued an "overweight" rating and issued a $370.00 target price (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Wall Street Zen upgraded Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Seaport Res Ptn raised Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Finally, TD Cowen boosted their target price on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Twelve research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Stock Up 1.9%

PWR traded up $7.43 on Tuesday, hitting $391.55. 858,704 shares of the company were exchanged, compared to its average volume of 1,259,859. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The company has a market cap of $58.34 billion, a PE ratio of 60.61, a PEG ratio of 2.28 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The stock's fifty day moving average is $381.71 and its 200-day moving average is $320.88.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results 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. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. Quanta Services's revenue was up 21.1% on a year-over-year basis. Equities research 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, July 11th. Investors of record on Tuesday, July 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 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.