Patton Albertson Miller Group LLC Has $11.33 Million Stake in Quanta Services, Inc. $PWR

Key Points

• Patton Albertson Miller Group LLC reduced its stake in Quanta Services, Inc. by 4.8%, holding approximately $11.33 million in shares, which represents 1.5% of the firm's investment portfolio.
• Equities research analysts have mixed ratings for Quanta Services, with 13 analysts rating it a "Buy" and 12 rating it a "Hold," and a revised average price target of $404.27.
• Quanta Services reported a 21.1% year-over-year revenue increase in its last quarter, with earnings per share of $2.48, surpassing estimated expectations and setting FY 2025 guidance at $10.280-10.880 EPS.

Patton Albertson Miller Group LLC trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,958 shares of the construction company's stock after selling 1,508 shares during the quarter. Quanta Services accounts for 1.5% of Patton Albertson Miller Group LLC's investment portfolio, making the stock its 14th largest holding. Patton Albertson Miller Group LLC's holdings in Quanta Services were worth $11,327,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after purchasing an additional 407,878 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Quanta Services in the 2nd quarter valued at $650,960,000. Nuveen LLC purchased a new stake in Quanta Services in the 1st quarter valued at $404,288,000. Northern Trust Corp raised its position in Quanta Services by 3.8% in the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock valued at $392,839,000 after buying an additional 56,081 shares during the last quarter. Finally, Amundi raised its position in Quanta Services by 188.3% in the 1st quarter. Amundi now owns 1,206,577 shares of the construction company's stock valued at $304,139,000 after buying an additional 788,079 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stifel Nicolaus increased their price target on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Sanford C. Bernstein downgraded 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. Evercore ISI upped their price objective on Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Mizuho began coverage on Quanta Services in a research note on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and an average price target of $404.27.

Quanta Services Stock Up 1.4%

PWR stock opened at $406.00 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company has a market capitalization of $60.50 billion, a price-to-earnings ratio of 62.85, a PEG ratio of 2.41 and a beta of 1.01. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The stock has a fifty day moving average of $388.49 and a 200-day moving average of $344.71.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion during 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 firm's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be issued 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 dividend payout ratio (DPR) is presently 6.19%.

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.

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