Moran Wealth Management LLC Reduces Stake in Quanta Services, Inc. $PWR

Moran Wealth Management LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 10.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 58,093 shares of the construction company’s stock after selling 6,482 shares during the quarter. Moran Wealth Management LLC’s holdings in Quanta Services were worth $21,964,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new position in shares of Quanta Services in the 1st quarter valued at about $25,000. SOA Wealth Advisors LLC. boosted its position in shares of Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares during the period. WPG Advisers LLC acquired a new stake in shares of Quanta Services in the 1st quarter valued at about $31,000. Ameriflex Group Inc. boosted its position in shares of Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after purchasing an additional 40 shares during the period. Finally, AlphaQuest LLC acquired a new stake in shares of Quanta Services in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 3.4%

Shares of PWR stock opened at $431.61 on Tuesday. The business’s 50 day moving average is $392.56 and its two-hundred day moving average is $357.49. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $443.97. The company has a market capitalization of $64.31 billion, a P/E ratio of 66.81, a price-to-earnings-growth ratio of 2.47 and a beta of 1.04. 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 (NYSE:PWR) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share 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 the consensus estimate of $6.55 billion. During the same period last year, the business posted $1.90 EPS. 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. Equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.19%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Seaport Res Ptn raised Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Citigroup upped their target price on Quanta Services from $432.00 to $492.00 and gave the company a “buy” rating in a research report on Monday, July 28th. UBS Group upped their target price on Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Wall Street Zen cut Quanta Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Northland Securities cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 target price for the company. in a research report on Wednesday, July 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $408.45.

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.