SageView Advisory Group LLC Reduces Holdings in Quanta Services, Inc. $PWR

Key Points

• SageView Advisory Group LLC reduced its holdings in Quanta Services by 7.2% during Q1, owning 9,524 shares worth approximately $2.42 million after selling 738 shares.
• Several institutional investors, including Nuveen LLC and GAMMA Investing LLC, significantly increased their stakes, indicating strong institutional interest in Quanta Services.
• Quanta Services reported a quarterly earnings beat with $2.48 EPS, exceeding estimates and a revenue increase of 21.1% year-over-year, contributing to a positive outlook among analysts.

SageView Advisory Group LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,524 shares of the construction company's stock after selling 738 shares during the period. SageView Advisory Group LLC's holdings in Quanta Services were worth $2,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. Nuveen LLC bought a new stake in shares of Quanta Services in the first quarter worth $404,288,000. GAMMA Investing LLC boosted its holdings in shares of Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after acquiring an additional 811,797 shares during the period. Amundi boosted its holdings 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 valued at $304,139,000 after acquiring an additional 788,079 shares during the period. Jennison Associates LLC boosted its holdings in shares of Quanta Services by 433.3% during the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after acquiring an additional 504,540 shares during the period. Finally, 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 purchasing an additional 407,878 shares during the period. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 0.6%

Shares of Quanta Services stock opened at $373.37 on Wednesday. The business's 50 day simple moving average is $387.34 and its 200 day simple moving average is $332.25. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The firm has a market cap of $55.64 billion, a PE ratio of 57.80, a P/E/G ratio of 2.23 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 (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 firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business's quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PWR shares. DA Davidson boosted their price target on shares of Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Truist Financial boosted their price objective on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Mizuho assumed coverage on Quanta Services in a research note on Thursday, September 4th. They issued a "neutral" rating and a $360.00 target price for the company. Finally, BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and upped their target price for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and a consensus price target of $397.18.

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.

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.