Carderock Capital Management Inc. Reduces Stake in Quanta Services, Inc. $PWR

Key Points

• Carderock Capital Management Inc. reduced its stake in Quanta Services, Inc. by 17.5%, selling 4,948 shares and holding 23,379 shares post-sale.
• Many hedge funds are also increasing their positions in Quanta Services, highlighting strong institutional interest with 90.49% of the stock owned by institutional investors.
• Quanta Services recently reported quarterly earnings of $2.48 per share, beating estimates and showing a 21.1% year-over-year revenue growth.

Carderock Capital Management Inc. trimmed its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 17.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,379 shares of the construction company's stock after selling 4,948 shares during the quarter. Quanta Services accounts for 2.3% of Carderock Capital Management Inc.'s holdings, making the stock its 16th biggest holding. Carderock Capital Management Inc.'s holdings in Quanta Services were worth $8,839,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services during the 1st quarter worth $25,000. WPG Advisers LLC bought a new position in shares of Quanta Services during the first quarter worth about $31,000. AlphaQuest LLC acquired a new stake in Quanta Services in the first quarter valued at approximately $35,000. Zions Bancorporation National Association UT purchased a new position in shares of Quanta Services during the first quarter valued at approximately $40,000. Finally, OLD Second National Bank of Aurora purchased a new position in shares of Quanta Services during the first quarter valued at approximately $42,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PWR shares. Roth Capital reaffirmed a "buy" rating and set a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Truist Financial increased their target price on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Stifel Nicolaus boosted their target price on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Evercore ISI upped their price target on Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Citigroup boosted their price objective on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Twelve investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and a consensus price target of $401.19.

Quanta Services Price Performance

Shares of Quanta Services stock traded up $7.90 during trading on Monday, hitting $396.48. 577,284 shares of the stock traded hands, compared to its average volume of 1,348,009. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The stock has a market cap of $59.08 billion, a price-to-earnings ratio of 61.37, a PEG ratio of 2.31 and a beta of 1.01. The firm's fifty day moving average is $387.90 and its 200-day moving average is $340.01. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS 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 analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company's revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Quanta Services 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.