Quanta Services, Inc. $PWR Shares Sold by Electron Capital Partners LLC

Key Points

• Electron Capital Partners LLC has reduced its position in Quanta Services by 29%, owning about 249,807 shares valued at approximately $63.5 million.
• Quanta Services reported strong earnings with $2.48 EPS and $6.77 billion in revenue, surpassing estimates and showing a 21.1% increase from the previous year.
• The company announced a quarterly dividend of $0.10 per share, reflecting a 0.1% dividend yield, set to be paid on October 10th.

Electron Capital Partners LLC lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 29.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 249,807 shares of the construction company's stock after selling 101,827 shares during the quarter. Quanta Services comprises about 4.2% of Electron Capital Partners LLC's portfolio, making the stock its 9th largest holding. Electron Capital Partners LLC owned approximately 0.17% of Quanta Services worth $63,496,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after buying an additional 407,878 shares during the last quarter. Nuveen LLC bought a new position in shares of Quanta Services during the first quarter worth approximately $404,288,000. Northern Trust Corp increased its stake in shares of Quanta Services by 3.8% during the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock worth $392,839,000 after purchasing an additional 56,081 shares during the period. Amundi increased its stake in shares of Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock worth $304,139,000 after purchasing an additional 788,079 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Quanta Services by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock worth $361,256,000 after purchasing an additional 82,981 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

PWR stock traded down $3.53 during mid-day trading on Friday, hitting $372.56. The stock had a trading volume of 1,128,430 shares, compared to its average volume of 846,491. The firm has a fifty day simple moving average of $387.38 and a 200 day simple moving average of $330.88. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The firm has a market capitalization of $55.52 billion, a P/E ratio of 57.67, a P/E/G ratio of 2.21 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last released its 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. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same period in the prior year, the company earned $1.90 earnings per share. The company'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. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Wall Street Zen lowered Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Piper Sandler reissued an "overweight" rating and set a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Finally, Stifel Nicolaus increased their price target on Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $397.18.

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.