Valeo Financial Advisors LLC Sells 136 Shares of Quanta Services, Inc. $PWR

Valeo Financial Advisors LLC decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,234 shares of the construction company’s stock after selling 136 shares during the period. Valeo Financial Advisors LLC’s holdings in Quanta Services were worth $845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Quanta Services by 2.4% in the 1st 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 position in shares of Quanta Services during the second quarter valued at $650,960,000. Nuveen LLC bought a new position in shares of Quanta Services during the first quarter valued at $404,288,000. Northern Trust Corp raised its stake in shares of Quanta Services by 3.8% during the first 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 last quarter. Finally, Amundi raised its stake in shares of Quanta Services by 188.3% during the first 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 last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 5.2%

PWR opened at $443.56 on Thursday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $443.97. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market cap of $66.09 billion, a P/E ratio of 68.66, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The company has a fifty day moving average price of $390.85 and a two-hundred day moving average price of $352.87.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating 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 firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The business’s 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. Analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

PWR has been the subject of several analyst reports. BMO Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and raised their price target for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Citigroup raised their price target on shares of Quanta Services from $432.00 to $492.00 and gave the company a “buy” rating in a research note on Monday, July 28th. UBS Group lifted their target price on shares of Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Mizuho started coverage on shares of Quanta Services in a research note on Thursday, September 4th. They set a “neutral” rating and a $360.00 target price for the company. Finally, TD Cowen lifted their target price on shares of Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $406.50.

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.