Envestnet Asset Management Inc. Decreases Position in Quanta Services, Inc. $PWR

Envestnet Asset Management Inc. lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,332 shares of the construction company’s stock after selling 14,506 shares during the period. Envestnet Asset Management Inc.’s holdings in Quanta Services were worth $70,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Quanta Services by 2.4% during the 1st 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 during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Quanta Services during the 2nd quarter valued at $650,960,000. Nuveen LLC purchased a new stake in shares of Quanta Services during the 1st quarter valued at $404,288,000. Northern Trust Corp lifted its holdings in shares of Quanta Services by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock valued at $392,839,000 after purchasing an additional 56,081 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Quanta Services by 188.3% during the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after purchasing an additional 788,079 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $453.20 on Friday. The stock has a 50-day simple moving average of $406.70 and a two-hundred day simple moving average of $373.13. The firm has a market capitalization of $67.53 billion, a P/E ratio of 70.15, a PEG ratio of 2.66 and a beta of 1.04. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $460.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Stifel Nicolaus raised their target price on Quanta Services from $432.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. raised their target price on Quanta Services from $395.00 to $436.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Evercore ISI raised their target price on Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Seaport Res Ptn upgraded Quanta Services to a “hold” rating in a research note on Thursday, July 10th. Finally, UBS Group raised their target price on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $414.09.

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.