Balefire LLC Sells 810 Shares of Quanta Services, Inc. $PWR

Key Points

• Balefire LLC reduced its stake in Quanta Services, Inc. by 58.1%, holding 585 shares valued at $221,000 as of its latest SEC filing.
• Quanta Services reported strong quarterly earnings with a net revenue of $6.77 billion, surpassing estimates, and announced a quarterly dividend of $0.10 per share.
• Wall Street analysts maintain a bullish outlook for Quanta Services, with a mix of "buy" and "hold" ratings and an average price target of $401.19.

Balefire LLC decreased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 58.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 585 shares of the construction company's stock after selling 810 shares during the period. Balefire LLC's holdings in Quanta Services were worth $221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in Quanta Services during the 4th quarter valued at $298,000. Vident Advisory LLC lifted its position in shares of Quanta Services by 10.2% in the fourth quarter. Vident Advisory LLC now owns 3,385 shares of the construction company's stock worth $1,070,000 after buying an additional 312 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Quanta Services in the fourth quarter worth about $2,802,000. Waverly Advisors LLC acquired a new position in shares of Quanta Services during the 4th quarter worth about $345,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Quanta Services by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock valued at $361,256,000 after acquiring an additional 82,981 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

PWR traded down $1.31 on Friday, hitting $389.34. The company's stock had a trading volume of 1,493,178 shares, compared to its average volume of 825,678. The company's 50 day simple moving average is $387.90 and its 200-day simple moving average is $339.32. The firm has a market cap of $58.01 billion, a P/E ratio of 60.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion for 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 business's quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the company posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services's payout ratio is presently 6.19%.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of research analyst reports. Citigroup increased their price target on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Stifel Nicolaus raised their price target on Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Daiwa America downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Roth Capital reaffirmed a "buy" rating and issued a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and an average price target of $401.19.

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.