Gradient Investments LLC Has $25.21 Million Holdings in Quanta Services, Inc. $PWR

Key Points

• Gradient Investments LLC reduced its stake in Quanta Services, Inc. by 7.4%, now holding a total of 66,680 shares worth approximately $25.2 million following the sale of 5,295 shares.
• Quanta Services reported a quarterly earnings per share of $2.48, exceeding analysts' expectations, with a revenue rise of 21.1% year-over-year to $6.77 billion.
• The company announced a quarterly dividend of $0.10 per share, which will be paid on October 10th, reflecting a dividend yield of 0.1%.

Gradient Investments LLC cut its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,680 shares of the construction company's stock after selling 5,295 shares during the quarter. Gradient Investments LLC's holdings in Quanta Services were worth $25,210,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PWR. Brighton Jones LLC acquired a new stake in Quanta Services in the 4th quarter valued at approximately $298,000. Quantinno Capital Management LP increased its position in Quanta Services by 8.1% in the 4th quarter. Quantinno Capital Management LP now owns 11,817 shares of the construction company's stock valued at $3,735,000 after acquiring an additional 890 shares during the period. ProShare Advisors LLC increased its position in Quanta Services by 14.5% in the 4th quarter. ProShare Advisors LLC now owns 21,370 shares of the construction company's stock valued at $6,754,000 after acquiring an additional 2,703 shares during the period. Rafferty Asset Management LLC increased its position in Quanta Services by 8.5% in the 4th quarter. Rafferty Asset Management LLC now owns 14,650 shares of the construction company's stock valued at $4,630,000 after acquiring an additional 1,144 shares during the period. Finally, Snowden Capital Advisors LLC increased its position in Quanta Services by 39.6% in the 4th quarter. Snowden Capital Advisors LLC now owns 5,365 shares of the construction company's stock valued at $1,696,000 after acquiring an additional 1,522 shares during the period. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on PWR shares. TD Cowen raised their target price on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Sanford C. Bernstein lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a research note on Monday, July 28th. Truist Financial raised their price objective on Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Seaport Res Ptn raised Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Finally, Stifel Nicolaus raised their price objective on Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Twelve equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $401.19.

Quanta Services Price Performance

Shares of NYSE:PWR traded down $0.84 during trading on Friday, reaching $389.81. The stock had a trading volume of 338,032 shares, compared to its average volume of 1,346,141. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The business's 50-day moving average price is $387.78 and its 200 day moving average price is $337.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The stock has a market capitalization of $58.09 billion, a PE ratio of 60.34, a P/E/G ratio of 2.23 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last posted 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 firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities 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 declared 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 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio is 6.19%.

Quanta Services Company 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.