Ameliora Wealth Management Ltd. Sells 1,062 Shares of Quanta Services, Inc. $PWR

Ameliora Wealth Management Ltd. lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 32.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,200 shares of the construction company’s stock after selling 1,062 shares during the quarter. Ameliora Wealth Management Ltd.’s holdings in Quanta Services were worth $832,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of Quanta Services during the second quarter worth about $650,960,000. Nuveen LLC acquired a new position in Quanta Services during the 1st quarter valued at about $404,288,000. Amundi increased its holdings in Quanta Services by 188.3% during the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after purchasing an additional 788,079 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Quanta Services by 433.3% in the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock worth $157,839,000 after purchasing an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after purchasing an additional 407,878 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Up 1.7%

Shares of Quanta Services stock opened at $428.33 on Tuesday. The stock has a market capitalization of $63.83 billion, a P/E ratio of 66.30, a P/E/G ratio of 2.50 and a beta of 1.04. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $431.24. 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 stock’s 50-day simple moving average is $390.00 and its 200 day simple moving average is $351.75.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share 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 firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the company earned $1.90 earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Quanta Services in a report on Saturday, September 27th. Northland Securities downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price objective on the stock. in a report on Wednesday, July 2nd. Citigroup increased their target price on shares of Quanta Services from $432.00 to $492.00 and gave the company a “buy” rating in a report on Monday, July 28th. BMO Capital Markets cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Finally, Northland Capmk downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $404.27.

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.