Sowell Financial Services LLC Decreases Stock Position in Quanta Services, Inc. $PWR

Sowell Financial Services LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 29.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,223 shares of the construction company’s stock after selling 515 shares during the period. Sowell Financial Services LLC’s holdings in Quanta Services were worth $463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. bought a new position in Quanta Services during the 1st quarter valued at approximately $25,000. WPG Advisers LLC bought a new position in Quanta Services in the first quarter worth about $31,000. AlphaQuest LLC bought a new position in shares of Quanta Services in the 1st quarter worth approximately $35,000. Zions Bancorporation National Association UT purchased a new position in Quanta Services during the first quarter valued at $40,000. Finally, OLD Second National Bank of Aurora purchased a new position in Quanta Services during the 1st quarter valued at about $42,000. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Mizuho began coverage on Quanta Services in a research note on Thursday, September 4th. They issued a “neutral” rating and a $360.00 price target on the stock. Jefferies Financial Group raised shares of Quanta Services from a “hold” rating to a “buy” rating and boosted their price objective for the company from $398.00 to $469.00 in a report on Wednesday. Northland Securities cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 target price on the stock. in a research report on Wednesday, July 2nd. UBS Group lifted their price target on shares of Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, DA Davidson boosted their price objective on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $404.27.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $403.26 on Thursday. The stock has a 50 day moving average of $388.42 and a 200 day moving average of $341.83. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. 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 firm has a market cap of $60.09 billion, a PE ratio of 62.42, a PEG ratio of 2.31 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its quarterly earnings results 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. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. Quanta Services’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. On average, research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services’s payout ratio 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.