Cookson Peirce & Co. Inc. Trims Position in Quanta Services, Inc. $PWR

Key Points

• Cookson Peirce & Co. Inc. reduced its stake in Quanta Services, Inc. by 17.7%, selling 1,479 shares and now owns 6,897 shares valued at approximately $2.6 million.
• Quanta Services reported a quarterly earnings per share of $2.48, exceeding analyst expectations and showing a 21.1% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.10 per share, with a current dividend payout ratio of 6.19%.

Cookson Peirce & Co. Inc. trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 17.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,897 shares of the construction company's stock after selling 1,479 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Quanta Services were worth $2,608,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SCP Investment LP acquired a new stake in shares of Quanta Services during the 1st quarter worth $966,000. Brighton Jones LLC acquired a new stake in shares of Quanta Services during the 4th quarter worth $298,000. Swedbank AB increased its holdings in shares of Quanta Services by 50.5% during the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company's stock worth $304,269,000 after buying an additional 401,418 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Quanta Services during the 2nd quarter worth $271,000. Finally, Voya Investment Management LLC increased its holdings in shares of Quanta Services by 8.6% during the 1st quarter. Voya Investment Management LLC now owns 598,067 shares of the construction company's stock worth $152,017,000 after buying an additional 47,469 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 0.8%

Shares of NYSE:PWR opened at $437.30 on Wednesday. The firm has a fifty day moving average of $398.49 and a two-hundred day moving average of $364.40. The firm has a market capitalization of $65.16 billion, a P/E ratio of 67.69, a price-to-earnings-growth ratio of 2.61 and a beta of 1.04. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $446.60. 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 released its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business's revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus increased their price target on Quanta Services from $432.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, October 9th. TD Cowen increased their price target on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Jefferies Financial Group upgraded Quanta Services from a "hold" rating to a "buy" rating and raised their target price for the company from $398.00 to $469.00 in a research note on Wednesday, September 24th. Weiss Ratings restated a "buy (b-)" rating on shares of Quanta Services in a research note on Wednesday, October 8th. Finally, BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and raised their target price for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $411.59.

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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