Firsthand Capital Management Inc. Has $534,000 Stock Position in Quanta Services, Inc. $PWR

Key Points

• Firsthand Capital Management Inc. has reduced its stake in Quanta Services, Inc. by 32.3%, selling 1,000 shares and now owning a total of 2,100 shares, which represent approximately 1.3% of its portfolio.
• Quanta Services reported a strong quarterly earnings performance with an EPS of $2.48, surpassing estimates and reflecting a 21.1% year-over-year revenue increase to $6.77 billion.
• The company recently announced a quarterly dividend of $0.10 per share, emphasizing a low dividend payout ratio of 6.19%, with the dividend expected to be paid on October 10th.

Firsthand Capital Management Inc. reduced its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 32.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,100 shares of the construction company's stock after selling 1,000 shares during the quarter. Quanta Services makes up 1.3% of Firsthand Capital Management Inc.'s portfolio, making the stock its 19th biggest position. Firsthand Capital Management Inc.'s holdings in Quanta Services were worth $534,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. MAI Capital Management increased its holdings in shares of Quanta Services by 7.9% in the 1st quarter. MAI Capital Management now owns 16,937 shares of the construction company's stock worth $4,305,000 after acquiring an additional 1,238 shares during the period. Night Squared LP acquired a new stake in shares of Quanta Services in the 1st quarter worth about $2,923,000. Twin Tree Management LP increased its holdings in shares of Quanta Services by 155.5% in the 1st quarter. Twin Tree Management LP now owns 74,599 shares of the construction company's stock worth $18,962,000 after acquiring an additional 45,398 shares during the period. Second Line Capital LLC increased its holdings in shares of Quanta Services by 3.7% in the 1st quarter. Second Line Capital LLC now owns 9,659 shares of the construction company's stock worth $2,455,000 after acquiring an additional 342 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Quanta Services by 3.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock worth $242,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on PWR shares. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Truist Financial raised their target price on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research note on Monday, August 4th. 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 research note on Monday, July 28th. BMO Capital Markets cut shares of 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. Finally, TD Cowen raised their target price on shares of Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $397.18.

Quanta Services Price Performance

Shares of PWR traded up $1.37 during mid-day trading on Thursday, hitting $375.78. The company's stock had a trading volume of 937,468 shares, compared to its average volume of 1,374,560. The firm has a 50-day moving average price of $387.65 and a 200 day moving average price of $329.39. The stock has a market capitalization of $55.99 billion, a price-to-earnings ratio of 58.17, a PEG ratio of 2.24 and a beta of 1.01. 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 fifty-two week low of $227.08 and a fifty-two week high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

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.