Peddock Capital Advisors LLC Has $6.63 Million Position in Quanta Services, Inc. $PWR

Peddock Capital Advisors LLC lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,542 shares of the construction company’s stock after selling 84 shares during the period. Quanta Services comprises about 1.5% of Peddock Capital Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. Peddock Capital Advisors LLC’s holdings in Quanta Services were worth $6,632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after buying an additional 32 shares during the period. Frank Rimerman Advisors LLC lifted its stake in shares of Quanta Services by 1.1% in the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after purchasing an additional 34 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its stake in shares of 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 purchasing an additional 36 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in shares of 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 purchasing an additional 37 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in shares of 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 purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Northland Capmk downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Roth Capital restated a “buy” rating and set a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $411.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Citigroup boosted their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Finally, BMO Capital Markets cut shares of 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. Twelve analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $401.19.

Quanta Services Price Performance

PWR stock opened at $389.85 on Wednesday. The firm has a market cap of $58.09 billion, a P/E ratio of 60.35, a P/E/G ratio of 2.35 and a beta of 1.01. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $388.14 and its two-hundred day moving average price is $341.41. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 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 business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the company earned $1.90 EPS. The firm’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. On average, analysts anticipate 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. Shareholders 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 of this dividend is Wednesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 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.