EFG Asset Management North America Corp. Cuts Stock Holdings in Quanta Services, Inc. $PWR

EFG Asset Management North America Corp. lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.4% during the second quarter, HoldingsChannel.com reports. The firm owned 11,707 shares of the construction company’s stock after selling 536 shares during the period. EFG Asset Management North America Corp.’s holdings in Quanta Services were worth $4,425,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. 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 purchasing an additional 56 shares during the period. 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 purchasing an additional 43 shares during the period. Solstein Capital LLC raised its stake in Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. Ameriflex Group Inc. raised its stake 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 acquiring an additional 40 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Quanta Services in the 1st quarter valued at $25,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. TD Cowen raised their target price on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Quanta Services in a research note on Wednesday, October 8th. Finally, UBS Group raised their target price on shares of Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $438.64.

Quanta Services Stock Performance

Quanta Services stock opened at $438.25 on Wednesday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $469.43. The company has a market capitalization of $65.35 billion, a price-to-earnings ratio of 67.84, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The firm’s fifty day moving average price is $410.64 and its 200 day moving average price is $378.29.

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

Quanta Services Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s payout ratio is currently 5.93%.

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.