Stratos Wealth Advisors LLC Reduces Position in Quanta Services, Inc. $PWR

Key Points

• Stratos Wealth Advisors LLC reduced its stake in Quanta Services, Inc. by 40.2%, leaving them with 1,915 shares valued at approximately $724,000.
• Quanta Services received several positive analyst ratings, including a price target increase by Roth Capital from $350.00 to $450.00 and by Truist Financial from $472.00 to $521.00.
• The company recently declared a quarterly dividend of $0.10 per share, resulting in an annualized dividend yield of 0.1%.

Stratos Wealth Advisors LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 40.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,915 shares of the construction company's stock after selling 1,289 shares during the quarter. Stratos Wealth Advisors LLC's holdings in Quanta Services were worth $724,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SCP Investment LP purchased a new stake in shares of Quanta Services during the first quarter worth about $966,000. Brighton Jones LLC acquired a new stake in Quanta Services during the fourth quarter worth approximately $298,000. Swedbank AB boosted its position in Quanta Services by 50.5% during the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company's stock worth $304,269,000 after acquiring an additional 401,418 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Quanta Services in the 2nd quarter worth approximately $271,000. Finally, Wealth Enhancement Advisory Services LLC raised 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 valued at $17,480,000 after acquiring an additional 2,479 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PWR shares. Weiss Ratings restated a "buy (b-)" rating on shares of Quanta Services in a report on Wednesday, October 8th. Roth Capital reissued a "buy" rating and issued a $450.00 price target (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Mizuho initiated coverage on Quanta Services in a report on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price target for the company. Truist Financial increased their price objective on shares of Quanta Services from $472.00 to $521.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Citigroup raised their target price on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Fourteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and an average price target of $410.45.

Quanta Services Stock Down 0.7%

PWR opened at $434.65 on Monday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $446.60. The firm has a 50 day moving average price of $396.43 and a 200 day moving average price of $362.48. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company has a market cap of $64.77 billion, a PE ratio of 67.28, a price-to-earnings-growth ratio of 2.57 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. Quanta Services's revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services's dividend payout ratio is currently 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.

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