Carnegie Investment Counsel Sells 50 Shares of Quanta Services, Inc. $PWR

Carnegie Investment Counsel lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,660 shares of the construction company’s stock after selling 50 shares during the period. Carnegie Investment Counsel’s holdings in Quanta Services were worth $628,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services during the first quarter valued at $25,000. Copia Wealth Management raised its stake in Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. raised its stake in Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after buying an additional 43 shares during the last quarter. WPG Advisers LLC bought a new position in Quanta Services during the first quarter worth $31,000. Finally, Ameriflex Group Inc. raised its stake in Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after buying an additional 40 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Northland Securities downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 target price for the company. in a research note on Wednesday, July 2nd. Jefferies Financial Group raised shares of Quanta Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $398.00 to $469.00 in a research note on Wednesday, September 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Quanta Services in a research note on Saturday. Sanford C. Bernstein downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price for the company. in a research note on Monday, July 28th. Finally, Seaport Res Ptn raised shares of Quanta Services to a “hold” rating in a research note on Thursday, July 10th. Fourteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $411.59.

Quanta Services Stock Up 3.2%

Shares of NYSE PWR opened at $441.09 on Monday. The stock has a market capitalization of $65.73 billion, a P/E ratio of 68.28, a P/E/G ratio of 2.61 and a beta of 1.04. The company has a 50-day moving average price of $401.36 and a 200-day moving average price of $368.88. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $447.17. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion during 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%. The business’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the company 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 forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Quanta Services Company 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.