Quanta Services, Inc. $PWR Shares Sold by RFG Bristol Wealth Advisors LLC

RFG Bristol Wealth Advisors LLC cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 14.8% during the second quarter, Holdings Channel reports. The firm owned 1,679 shares of the construction company’s stock after selling 292 shares during the quarter. RFG Bristol Wealth Advisors LLC’s holdings in Quanta Services were worth $635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sunburst Financial Group LLC raised its position in Quanta Services by 25.3% during the second quarter. Sunburst Financial Group LLC now owns 990 shares of the construction company’s stock valued at $374,000 after buying an additional 200 shares during the period. Milestone Asset Management LLC purchased a new position in shares of Quanta Services during the 2nd quarter valued at $3,809,000. NewSquare Capital LLC increased its stake in shares of Quanta Services by 320.8% in the second quarter. NewSquare Capital LLC now owns 101 shares of the construction company’s stock worth $38,000 after acquiring an additional 77 shares during the last quarter. Holistic Financial Partners purchased a new stake in shares of Quanta Services during the second quarter worth $233,000. Finally, Bridgewater Advisors Inc. boosted its position in Quanta Services by 1.4% during the second quarter. Bridgewater Advisors Inc. now owns 2,987 shares of the construction company’s stock valued at $1,215,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $438.25 on Wednesday. The stock has a market capitalization of $65.35 billion, a price-to-earnings ratio of 67.84, a PEG ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $469.43. The firm has a fifty day moving average of $410.64 and a two-hundred day moving average of $378.29. 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 posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced 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 payout ratio is 5.93%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. BMO Capital Markets cut Quanta Services from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Stifel Nicolaus set a $495.00 price target on shares of Quanta Services in a research note on Monday. Jefferies Financial Group lifted their price objective on shares of Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research note on Monday. Roth Capital set a $500.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday. Finally, Wall Street Zen cut Quanta Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $438.64.

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.