Carderock Capital Management Inc. Sells 4,948 Shares of Quanta Services, Inc. $PWR

Carderock Capital Management Inc. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 17.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,379 shares of the construction company’s stock after selling 4,948 shares during the period. Quanta Services accounts for about 2.3% of Carderock Capital Management Inc.’s holdings, making the stock its 16th largest holding. Carderock Capital Management Inc.’s holdings in Quanta Services were worth $8,839,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on PWR shares. TD Cowen upped their price objective on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $414.00 price target (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. UBS Group lifted their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Northland Capmk cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Finally, DA Davidson lifted their price target on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Twelve analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $401.19.

Quanta Services Trading Up 4.0%

Shares of PWR stock opened at $391.23 on Friday. 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 company has a market cap of $58.30 billion, a price-to-earnings ratio of 60.56, a PEG ratio of 2.23 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The firm has a fifty day moving average price of $387.78 and a 200-day moving average price of $337.76.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s payout ratio is 6.19%.

Quanta Services 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.