Prosperity Consulting Group LLC Sells 357 Shares of Quanta Services, Inc. $PWR

Prosperity Consulting Group LLC decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 8.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,078 shares of the construction company’s stock after selling 357 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Quanta Services were worth $1,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Cullen Frost Bankers Inc. bought a new stake in Quanta Services during the 1st quarter valued at about $25,000. Copia Wealth Management lifted its holdings in Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. raised its holdings in shares of Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares in the last quarter. Solstein Capital LLC raised its holdings in shares of Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of Quanta Services in the 1st quarter valued at about $31,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PWR shares. Citigroup boosted their price target on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Quanta Services in a report on Wednesday, October 8th. TD Cowen boosted their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Sanford C. Bernstein lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target for the company. in a report on Monday, July 28th. Finally, Stifel Nicolaus set a $495.00 price objective on shares of Quanta Services in a research note on Monday. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $438.64.

Quanta Services Stock Down 2.8%

PWR stock opened at $438.25 on Wednesday. The firm’s fifty day simple moving average is $410.64 and its 200-day simple moving average is $378.29. The company has a market capitalization of $65.30 billion, a P/E ratio of 67.84, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $469.43.

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

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s dividend payout ratio is 5.93%.

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.