Carderock Capital Management Inc. Trims Holdings in Quanta Services, Inc. $PWR

Key Points

• Carderock Capital Management Inc. reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 7.7%, selling 2,378 shares during the first quarter, leaving them with 28,327 shares valued at $7.2 million.
• Quanta Services reported $2.48 EPS for the last quarter, exceeding analysts' estimates by $0.04, with a revenue of $6.77 billion, a 21.1% increase year-over-year.
• The company has announced a quarterly dividend of $0.10 per share, scheduled for payment on October 10th, representing an annualized yield of 0.1%.

Carderock Capital Management Inc. lowered its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,327 shares of the construction company's stock after selling 2,378 shares during the quarter. Carderock Capital Management Inc.'s holdings in Quanta Services were worth $7,200,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PWR. Brighton Jones LLC purchased a new position in Quanta Services during the 4th quarter worth $298,000. Focus Partners Wealth raised its position in Quanta Services by 36.9% during the 4th quarter. Focus Partners Wealth now owns 26,454 shares of the construction company's stock worth $8,361,000 after buying an additional 7,133 shares during the last quarter. Gotham Asset Management LLC raised its position in Quanta Services by 23.2% during the 4th quarter. Gotham Asset Management LLC now owns 16,451 shares of the construction company's stock worth $5,199,000 after buying an additional 3,095 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Quanta Services in the 4th quarter valued at about $2,215,000. Finally, Obermeyer Wealth Partners increased its holdings in shares of Quanta Services by 6.1% in the 4th quarter. Obermeyer Wealth Partners now owns 955 shares of the construction company's stock valued at $302,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $389.94 on Thursday. The company has a market cap of $58.10 billion, a PE ratio of 60.36, a price-to-earnings-growth ratio of 2.22 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 debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The company has a 50-day simple moving average of $387.67 and a 200-day simple moving average of $332.65.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly 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 business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's payout ratio is 6.19%.

Analysts Set New Price Targets

PWR has been the subject of a number of research analyst reports. Truist Financial increased their price target on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a report on Monday, August 4th. Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Northland Securities downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price for the company. in a report on Wednesday, July 2nd. Citigroup raised their target price on shares of Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, Stifel Nicolaus raised their target price on shares of Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 4th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $397.18.

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.

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