Quanta Services, Inc. $PWR Shares Sold by Wells Trecaso Financial Group LLC

Key Points

• Wells Trecaso Financial Group LLC reduced its stake in Quanta Services, Inc. by 4.1% during the second quarter, holding 18,348 shares valued at approximately $6.94 million.
• Analysts have varying ratings for Quanta Services, with a general consensus of "Moderate Buy" and an average price target of $404.27.
• The company recently announced a quarterly dividend of $0.10 per share, marking an annualized payout of $0.40 with a dividend yield of 0.1%.

Wells Trecaso Financial Group LLC trimmed its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,348 shares of the construction company's stock after selling 786 shares during the period. Quanta Services comprises about 2.1% of Wells Trecaso Financial Group LLC's portfolio, making the stock its 16th largest holding. Wells Trecaso Financial Group LLC's holdings in Quanta Services were worth $6,937,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SCP Investment LP acquired a new stake in Quanta Services in the 1st quarter worth about $966,000. Brighton Jones LLC acquired a new stake in Quanta Services in the 4th quarter worth about $298,000. Swedbank AB boosted its holdings in Quanta Services by 50.5% in the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company's stock worth $304,269,000 after buying an additional 401,418 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after buying an additional 2,479 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after buying an additional 588 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on PWR shares. Evercore ISI boosted their target price on Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a report on Thursday, July 10th. Roth Capital restated a "buy" rating and set a $450.00 target price (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Weiss Ratings restated a "buy (b-)" rating on shares of Quanta Services in a report on Saturday, September 27th. Finally, Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Fourteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $404.27.

Quanta Services Trading Up 0.2%

PWR opened at $421.88 on Friday. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $431.24. The stock has a market capitalization of $62.86 billion, a PE ratio of 65.31, a P/E/G ratio of 2.50 and a beta of 1.04. The business's 50 day moving average price is $389.67 and its 200 day moving average price is $349.54. 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 (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $6.55 billion. During the same period in the prior year, the firm posted $1.90 earnings per share. The firm'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, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be given 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 yield of 0.1%. Quanta Services's payout ratio 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.

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.