Quanta Services, Inc. $PWR Stake Cut by Tower View Wealth Management LLC

Key Points

• Tower View Wealth Management LLC reduced its stake in Quanta Services, Inc. by 3.8% in Q2, owning 15,893 shares worth approximately $6 million.
• Quanta Services reported a 21.1% revenue increase year-over-year for the last quarter, with earnings per share (EPS) of $2.48, exceeding analyst expectations.
• The company has a current market cap of $62.69 billion and recently announced a quarterly dividend of $0.10 per share, reflecting a 0.1% yield.

Tower View Wealth Management LLC decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,893 shares of the construction company's stock after selling 620 shares during the period. Quanta Services comprises about 3.1% of Tower View Wealth Management LLC's portfolio, making the stock its 12th largest holding. Tower View Wealth Management LLC's holdings in Quanta Services were worth $6,009,000 as of its most recent SEC filing.

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

Quanta Services Stock Performance

PWR opened at $420.71 on Friday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $431.24. The company has a market capitalization of $62.69 billion, a price-to-earnings ratio of 65.13, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The business has a 50 day moving average price of $389.67 and a two-hundred day moving average price of $348.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping 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 company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The company's quarterly revenue was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date 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 6.19%.

Analyst Ratings Changes

A number of analysts recently weighed in on PWR shares. Roth Capital reaffirmed a "buy" rating and issued a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Stifel Nicolaus lifted their price target on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 4th. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and raised their target price for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, Wall Street Zen lowered Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $404.27.

Quanta Services 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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