Forum Financial Management LP Has $1.09 Million Stock Holdings in Quanta Services, Inc. $PWR

Forum Financial Management LP cut its position in Quanta Services, Inc. (NYSE:PWR) by 9.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,885 shares of the construction company’s stock after selling 318 shares during the period. Forum Financial Management LP’s holdings in Quanta Services were worth $1,091,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. TFB Advisors LLC acquired a new stake in shares of Quanta Services in the 2nd quarter valued at about $235,000. Onyx Bridge Wealth Group LLC lifted its position in Quanta Services by 7.5% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 1,355 shares of the construction company’s stock valued at $512,000 after acquiring an additional 95 shares in the last quarter. Exencial Wealth Advisors LLC bought a new position in Quanta Services in the 2nd quarter valued at about $268,000. Cullen Frost Bankers Inc. lifted its position in Quanta Services by 62.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 162 shares of the construction company’s stock valued at $61,000 after acquiring an additional 62 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in Quanta Services by 1.4% in the 2nd quarter. Whittier Trust Co. now owns 6,502 shares of the construction company’s stock valued at $2,458,000 after acquiring an additional 87 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Up 3.7%

NYSE:PWR opened at $427.32 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. The stock has a market capitalization of $63.67 billion, a PE ratio of 66.15, a price-to-earnings-growth ratio of 2.44 and a beta of 1.04. The firm’s 50 day moving average is $400.13 and its 200 day moving average is $365.99. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $446.60.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. Quanta Services’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued 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 was Wednesday, October 1st. Quanta Services’s payout ratio is 6.19%.

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent research reports. TD Cowen raised their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Northland Capmk cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $395.00 to $436.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Mizuho assumed coverage on shares of Quanta Services in a research report on Thursday, September 4th. They set a “neutral” rating and a $360.00 target price on the stock. Finally, Seaport Res Ptn raised shares of Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Fourteen 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $411.59.

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.