Brookstone Capital Management Trims Position in Quanta Services, Inc. $PWR

Key Points

• Brookstone Capital Management reduced its stake in Quanta Services, Inc. by 6.3% in the second quarter, now holding approximately $11.98 million worth of shares.
• Several other institutional investors have also made changes to their holdings, with Swedbank AB increasing its position by 50.5% during the same period.
• Quanta Services reported a quarterly EPS of $2.48, exceeding analysts' expectations, and set FY 2025 guidance at 10.280-10.880 EPS.

Brookstone Capital Management lessened its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,678 shares of the construction company's stock after selling 2,147 shares during the period. Brookstone Capital Management's holdings in Quanta Services were worth $11,977,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SCP Investment LP purchased a new position in Quanta Services in the 1st quarter worth about $966,000. Brighton Jones LLC purchased a new position in Quanta Services during the 4th quarter valued at about $298,000. Swedbank AB increased its position in Quanta Services by 50.5% during the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company's stock valued at $304,269,000 after purchasing an additional 401,418 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Quanta Services during the 2nd quarter valued at about $271,000. Finally, Voya Investment Management LLC increased its position in Quanta Services by 8.6% during the 1st quarter. Voya Investment Management LLC now owns 598,067 shares of the construction company's stock valued at $152,017,000 after purchasing an additional 47,469 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research reports. Wall Street Zen downgraded shares of Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Sanford C. Bernstein downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price on the stock. in a research report on Monday, July 28th. Seaport Res Ptn raised shares of Quanta Services to a "hold" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. lifted their price objective on shares of Quanta Services from $395.00 to $436.00 and gave the stock a "neutral" rating in a research report on Thursday, October 16th. Finally, Citigroup lifted their price objective on shares of Quanta Services from $490.00 to $517.00 and gave the stock a "buy" rating in a research report on Monday. Fourteen 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, Quanta Services has an average rating of "Moderate Buy" and an average target price of $411.59.

Quanta Services Stock Down 5.7%

Shares of Quanta Services stock opened at $412.44 on Thursday. The firm's 50 day moving average price is $399.14 and its 200-day moving average price is $364.73. 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, Inc. has a 52-week low of $227.08 and a 52-week high of $446.60. The company has a market cap of $61.46 billion, a P/E ratio of 63.85, a PEG ratio of 2.59 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The company 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%. Quanta Services's revenue for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the business earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 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. Investors of record on Wednesday, October 1st were paid a $0.10 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is 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.

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