Cookson Peirce & Co. Inc. Sells 1,479 Shares of Quanta Services, Inc. $PWR

Cookson Peirce & Co. Inc. reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 17.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,897 shares of the construction company’s stock after selling 1,479 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Quanta Services were worth $2,608,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC acquired a new position in Quanta Services in the second quarter valued at approximately $650,960,000. Nuveen LLC acquired a new position in Quanta Services in the first quarter valued at approximately $404,288,000. Amundi raised its holdings in Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after purchasing an additional 788,079 shares during the period. Jennison Associates LLC raised its holdings in Quanta Services by 433.3% in the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock worth $157,839,000 after purchasing an additional 504,540 shares during the period. Finally, Vanguard Group Inc. raised its holdings 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 worth $4,427,129,000 after purchasing an additional 407,878 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR opened at $437.30 on Wednesday. The firm has a 50-day moving average of $398.49 and a 200-day moving average of $364.40. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $446.60. The company has a market cap of $65.16 billion, a PE ratio of 67.69, a price-to-earnings-growth ratio of 2.61 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 (NYSE:PWR) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 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 during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the firm posted $1.90 EPS. The company’s quarterly 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. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were paid 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 dividend payout ratio (DPR) is currently 6.19%.

Analyst Upgrades and Downgrades

PWR has been the subject of several research reports. Roth Capital reissued a “buy” rating and set a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Jefferies Financial Group raised shares of Quanta Services from a “hold” rating to a “buy” rating and increased their price objective for the stock from $398.00 to $469.00 in a research report on Wednesday, September 24th. Stifel Nicolaus raised their target price on shares of Quanta Services from $432.00 to $475.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a research report on Wednesday, October 8th. Finally, UBS Group raised their target price on shares of Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Fourteen 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.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $411.59.

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.