Cadence Bank Sells 92 Shares of Quanta Services, Inc. $PWR

Cadence Bank cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 10,344 shares of the construction company’s stock after selling 92 shares during the period. Cadence Bank’s holdings in Quanta Services were worth $2,629,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Frank Rimerman Advisors LLC raised its stake in shares of Quanta Services by 1.1% during the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock worth $792,000 after purchasing an additional 34 shares during the period. Legacy Capital Wealth Partners LLC raised its stake in Quanta Services by 3.4% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company’s stock valued at $277,000 after acquiring an additional 36 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Quanta Services by 2.6% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company’s stock valued at $365,000 after acquiring an additional 37 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in Quanta Services by 15.6% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company’s stock valued at $72,000 after acquiring an additional 38 shares during the period. Finally, Kerntke Otto McGlone Wealth Management Group raised its stake in Quanta Services by 3.0% in the 1st quarter. Kerntke Otto McGlone Wealth Management Group now owns 1,356 shares of the construction company’s stock valued at $345,000 after acquiring an additional 39 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PWR shares. Northland Securities cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price objective on the stock. in a research note on Wednesday, July 2nd. Truist Financial boosted their price objective on Quanta Services from $375.00 to $472.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Northland Capmk lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. DA Davidson upped their target price on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Finally, B. Riley upped their target price on Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $392.45.

Quanta Services Trading Up 0.4%

NYSE PWR opened at $379.58 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The stock has a market cap of $56.56 billion, a P/E ratio of 58.76, a P/E/G ratio of 2.25 and a beta of 1.10. The stock’s fifty day moving average price is $385.24 and its 200-day moving average price is $325.07.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $6.55 billion. During the same period last year, the firm posted $1.90 earnings per share. Quanta Services’s 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. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

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.