Vident Advisory LLC Sells 2,135 Shares of Quanta Services, Inc. $PWR

Key Points

• Vident Advisory LLC sold 2,135 shares of Quanta Services, Inc., reducing its holdings by 63.1% in the first quarter, leaving them with 1,250 shares worth approximately $318,000.
• A variety of institutional investors have recently acquired stakes in Quanta Services, highlighting strong interest in the company, which now has 90.49% institutional ownership.
• Quanta Services announced a quarterly dividend of $0.10 per share, to be paid on October 10th, representing a 0.1% dividend yield and a payout ratio of 6.19%.

Vident Advisory LLC reduced its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 63.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,250 shares of the construction company's stock after selling 2,135 shares during the quarter. Vident Advisory LLC's holdings in Quanta Services were worth $318,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in Quanta Services in the 1st quarter valued at approximately $25,000. WPG Advisers LLC acquired a new stake in Quanta Services in the 1st quarter valued at approximately $31,000. AlphaQuest LLC acquired a new stake in Quanta Services in the 1st quarter valued at approximately $35,000. Zions Bancorporation National Association UT acquired a new stake in Quanta Services in the 1st quarter valued at approximately $40,000. Finally, OLD Second National Bank of Aurora acquired a new stake in Quanta Services in the 1st quarter valued at approximately $42,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PWR shares. Roth Capital restated 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. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Piper Sandler reiterated an "overweight" rating and set a $370.00 target price (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Stifel Nicolaus lifted their target price on Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price for the company. in a research note on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $397.18.

Quanta Services Price Performance

Shares of NYSE PWR opened at $375.20 on Tuesday. The stock has a market capitalization of $55.91 billion, a PE ratio of 58.08, a P/E/G ratio of 2.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The business has a fifty day moving average price of $387.31 and a two-hundred day moving average price of $331.96. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (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 business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The business's revenue for the quarter 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. As a group, equities 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 announced 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. 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 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.

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