Quanta Services, Inc. $PWR Shares Sold by Paradiem LLC

Key Points

• Paradiem LLC reduced its holdings in Quanta Services, Inc. by 48.3%, now owning 8,782 shares, which is about 0.8% of its investment portfolio, valued at approximately $3.32 million.
• Quanta Services reported $2.48 EPS in its last quarterly earnings, beating expectations, with revenues of $6.77 billion, reflecting a year-over-year growth of 21.1%.
• The company recently declared a quarterly dividend of $0.10 per share, with a yield of 0.1%, set to be paid on October 10th.

Paradiem LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 48.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,782 shares of the construction company's stock after selling 8,189 shares during the period. Quanta Services accounts for approximately 0.8% of Paradiem LLC's investment portfolio, making the stock its 27th biggest position. Paradiem LLC's holdings in Quanta Services were worth $3,320,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of PWR. Old Port Advisors increased its holdings in shares of Quanta Services by 0.7% in the second quarter. Old Port Advisors now owns 3,944 shares of the construction company's stock valued at $1,491,000 after purchasing an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in Quanta Services by 3.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock worth $242,000 after buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in Quanta Services by 1.1% in the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock valued at $792,000 after buying an additional 34 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its stake in shares of Quanta Services by 3.4% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock worth $277,000 after acquiring an additional 36 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in shares of Quanta Services by 2.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock worth $365,000 after acquiring an additional 37 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.9%

Quanta Services stock opened at $409.12 on Tuesday. The company has a market capitalization of $60.96 billion, a PE ratio of 63.33, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. 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, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The firm has a 50 day moving average price of $388.67 and a 200 day moving average price of $346.40.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS 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 business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period last year, the business posted $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. Research analysts expect 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 paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio is 6.19%.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of analyst reports. Sanford C. Bernstein lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a report on Monday, July 28th. Seaport Res Ptn raised shares of Quanta Services to a "hold" rating in a research note on Thursday, July 10th. DA Davidson raised their price target on shares of Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Truist Financial upped their price objective on Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a report on Monday, August 4th. Finally, BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $404.27.

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.

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