Fiduciary Alliance LLC Decreases Position in Quanta Services, Inc. $PWR

Key Points

• Fiduciary Alliance LLC reduced its holdings in Quanta Services, Inc. by 26.3% in Q2, now owning 20,567 shares valued at $7.78 million.
• Quanta Services reported an earnings per share of $2.48 for the last quarter, surpassing analyst estimates, with revenue increasing by 21.1% year-over-year to $6.77 billion.
• The company declared a quarterly dividend of $0.10, with a record date of October 1st and an annualized yield of 0.1%.

Fiduciary Alliance LLC trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,567 shares of the construction company's stock after selling 7,338 shares during the period. Fiduciary Alliance LLC's holdings in Quanta Services were worth $7,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PWR. Pinnacle Wealth Planning Services Inc. raised its position in shares of Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock valued at $242,000 after buying an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock valued at $792,000 after purchasing an additional 34 shares in the last quarter. Legacy Capital Wealth Partners LLC lifted its stake in Quanta Services by 3.4% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock worth $277,000 after purchasing an additional 36 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Quanta Services by 2.6% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock worth $365,000 after purchasing an additional 37 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Quanta Services by 15.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company's stock valued at $72,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 0.9%

PWR stock opened at $385.90 on Tuesday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The company has a market capitalization of $57.50 billion, a price-to-earnings ratio of 59.74, a price-to-earnings-growth ratio of 2.27 and a beta of 1.01. The business's 50 day moving average price is $387.68 and its two-hundred day moving average price is $336.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.19%.

Analyst Ratings Changes

PWR has been the subject of several research reports. UBS Group upped their target price on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Northland Capmk cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. 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 report on Monday, August 4th. DA Davidson boosted their price target on shares of Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, Sanford C. Bernstein cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective on the stock. in a research note on Monday, July 28th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Quanta Services has a consensus 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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