Sequoia Financial Advisors LLC Boosts Stock Holdings in Quanta Services, Inc. $PWR

Sequoia Financial Advisors LLC boosted its position in Quanta Services, Inc. (NYSE:PWR) by 44.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,949 shares of the construction company’s stock after purchasing an additional 29,168 shares during the period. Sequoia Financial Advisors LLC’s holdings in Quanta Services were worth $35,898,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Quanta Services during the 2nd quarter valued at $650,960,000. Nuveen LLC bought a new stake in Quanta Services during the 1st quarter valued at $404,288,000. Northern Trust Corp raised its holdings in Quanta Services by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock valued at $392,839,000 after acquiring an additional 56,081 shares during the period. Finally, Amundi raised its holdings in Quanta Services by 188.3% during the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after acquiring an additional 788,079 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

PWR has been the topic of a number of analyst reports. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Roth Capital reissued a “buy” rating and set a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Northland Securities cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 target price on the stock. in a report on Wednesday, July 2nd. Truist Financial upped their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group upped their price target on shares of Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $408.45.

Quanta Services Trading Down 3.0%

Quanta Services stock opened at $417.15 on Monday. The stock has a market cap of $62.16 billion, a P/E ratio of 64.57, a PEG ratio of 2.47 and a beta of 1.04. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $443.97. The firm’s fifty day moving average price is $391.79 and its 200-day moving average price is $356.25. 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 announced its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were given a $0.10 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services’s payout ratio is 6.19%.

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.