Quanta Services, Inc. $PWR Shares Sold by Carderock Capital Management Inc.

Carderock Capital Management Inc. cut its stake in Quanta Services, Inc. (NYSE:PWR) by 7.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 28,327 shares of the construction company’s stock after selling 2,378 shares during the period. Carderock Capital Management Inc.’s holdings in Quanta Services were worth $7,200,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Cullen Frost Bankers Inc. acquired a new position in Quanta Services during the first quarter valued at approximately $25,000. WPG Advisers LLC acquired a new position in Quanta Services during the first quarter valued at approximately $31,000. AlphaQuest LLC acquired a new position in Quanta Services during the first quarter valued at approximately $35,000. Zions Bancorporation National Association UT acquired a new position in Quanta Services during the first quarter valued at approximately $40,000. Finally, OLD Second National Bank of Aurora acquired a new position in Quanta Services during the first quarter valued at approximately $42,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Up 4.4%

Shares of NYSE:PWR opened at $389.94 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $387.67 and a 200 day simple moving average of $332.65. The firm has a market cap of $58.10 billion, a PE ratio of 60.36, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94.

Quanta Services (NYSE:PWR) last issued its quarterly 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. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services’s payout ratio is 6.19%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Quanta Services from $411.00 to $432.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Roth Capital reiterated a “buy” rating and set a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Mizuho assumed coverage on shares of Quanta Services in a research note on Thursday, September 4th. They set a “neutral” rating and a $360.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, UBS Group lifted their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $397.18.

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.