Dakota Wealth Management Sells 2,018 Shares of Quanta Services, Inc. $PWR

Key Points

• Dakota Wealth Management reduced its ownership of Quanta Services by 9.3%, selling 2,018 shares and now holds a total of 19,761 shares valued at approximately $7.47 million.
• Quanta Services reported $2.48 earnings per share for the latest quarter, surpassing analyst expectations, with a year-over-year revenue increase of 21.1%.
• The company announced a quarterly dividend of $0.10 per share, payable on October 10, reflecting a 0.1% yield and a payout ratio of 6.19%.

Dakota Wealth Management trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,761 shares of the construction company's stock after selling 2,018 shares during the quarter. Dakota Wealth Management's holdings in Quanta Services were worth $7,471,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SCP Investment LP acquired a new stake in Quanta Services during the first quarter worth approximately $966,000. Brighton Jones LLC acquired a new stake in Quanta Services during the fourth quarter worth approximately $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 worth $304,269,000 after buying an additional 401,418 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Quanta Services by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after buying an additional 2,479 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Quanta Services by 60.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after buying an additional 588 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Quanta Services stock opened at $403.26 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The company has a market capitalization of $60.09 billion, a P/E ratio of 62.42, a P/E/G ratio of 2.31 and a beta of 1.01. The business has a 50 day moving average of $388.42 and a 200-day moving average of $341.83.

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

Quanta Services Dividend Announcement

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 paid a dividend of $0.10 per share. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

Several research firms have weighed in on PWR. Northland Securities cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a research report on Wednesday, July 2nd. Stifel Nicolaus upped their target price on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Citigroup upped their target price on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen cut shares of Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $404.27.

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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