D.A. Davidson & CO. Sells 1,145 Shares of Quanta Services, Inc. $PWR

Key Points

• D.A. Davidson & CO. sold 1,145 shares of Quanta Services, Inc., reducing its holdings by 2.2% to a total of 51,834 shares valued at approximately $19.6 million.
• Quanta Services reported a quarterly earnings per share (EPS) of $2.48, surpassing analysts' expectations and showing a 21.1% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.10 per share, resulting in an annualized yield of 0.1% and a dividend payout ratio of 6.19%.

D.A. Davidson & CO. trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,834 shares of the construction company's stock after selling 1,145 shares during the period. D.A. Davidson & CO.'s holdings in Quanta Services were worth $19,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SCP Investment LP bought a new position in Quanta Services during the 1st quarter worth about $966,000. Brighton Jones LLC bought a new position in Quanta Services during the 4th quarter worth about $298,000. Swedbank AB grew its holdings in 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 acquiring an additional 401,418 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Quanta Services during the 2nd quarter worth about $271,000. Finally, Voya Investment Management LLC grew its holdings 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 worth $152,017,000 after acquiring an additional 47,469 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $437.30 on Wednesday. The firm has a market capitalization of $65.16 billion, a P/E ratio of 67.69, a PEG ratio of 2.61 and a beta of 1.04. 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 company has a 50 day moving average price of $398.49 and a 200 day moving average price of $364.40. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $446.60.

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 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%. Quanta Services's revenue was up 21.1% on a year-over-year basis. During the same period last year, the firm posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were given a dividend of $0.10 per share. The ex-dividend date of this dividend 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 currently 6.19%.

Analyst Upgrades and Downgrades

PWR has been the subject of several analyst reports. Seaport Res Ptn raised shares of Quanta Services to a "hold" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. increased their price target on shares of Quanta Services from $395.00 to $436.00 and gave the company a "neutral" rating in a research report on Thursday, October 16th. Northland Securities lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target for the company. in a research report on Wednesday, July 2nd. BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and increased their price target for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Quanta Services in a research report on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.