Quanta Services, Inc. (NYSE:PWR) recently saw a decrease in its stock holdings by Malaga Cove Capital LLC in the second quarter, as reported to the Securities and Exchange Commission (SEC). The institutional investor sold 403 shares, reducing its stake in Quanta Services by 2.4%. Despite this reduction, Quanta Services still accounts for 1.5% of Malaga Cove Capital LLC’s portfolio, making it their 11th largest position. The value of Malaga Cove Capital LLC’s holdings in Quanta Services was $3,236,000 as of the most recent SEC filing.
Other hedge funds have also made changes to their positions in Quanta Services. J.W. Cole Advisors Inc. increased their position in the company by 1.2% in the second quarter. Greenwich Wealth Management LLC lifted its position by 0.6% in the first quarter. TCI Wealth Advisors Inc. raised their position by 33.1% in the first quarter. Moody Lynn & Lieberson LLC also increased their position by 1.0% in the first quarter. Highview Capital Management LLC DE raised their position by 1.0% in the first quarter. Hedge funds and other institutional investors currently own 87.86% of Quanta Services’ stock.
Despite these insider activities, Quanta Services’ stock noticed an increase of 3.1% in trading. It reached $170.58 during midday trading on Tuesday. The stock has a market cap of $24.77 billion and a price-to-earnings ratio of 43.53. Quanta Services has a twelve-month low of $134.61 and a twelve-month high of $212.82. The business has a fifty-day simple moving average of $192.17 and a two-hundred day simple moving average of $186.66.
Quanta Services recently announced its quarterly earnings, reporting $1.47 EPS for the quarter, slightly lower than analysts’ estimates. The company had revenue of $5.05 billion during the quarter, surpassing analyst estimates. Quanta Services has a return on equity of 15.48% and a net margin of 3.16%. Research analysts predict that Quanta Services, Inc. will post 6.46 EPS for the current fiscal year.
In terms of dividends, Quanta Services announced a quarterly dividend of $0.08 per share, yielding an annualized dividend of $0.32 and a dividend payout ratio of 8.16%.
Several research analysts have issued reports on Quanta Services. Northland Securities increased their price target to $210 from $190. Credit Suisse Group raised their price target to $238 from $201 and gave the company an “outperform” rating. Robert W. Baird reiterated an “outperform” rating and set a $219 price target. Argus lifted their price target to $248 from $234 and gave the company a “buy” rating. Currently, Quanta Services has an average rating of “Moderate Buy” and an average target price of $205.27, according to MarketBeat.
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FAQs
What is Quanta Services, Inc. (NYSE:PWR)?
Quanta Services, Inc. is a company that provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. Their services include the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities, among others.
Who are the major shareholders of Quanta Services?
Malaga Cove Capital LLC is one of the major shareholders of Quanta Services, holding a 1.5% stake in the company. Other hedge funds and institutional investors also have significant holdings in Quanta Services, accounting for 87.86% of the stock.
What is the recent stock performance of Quanta Services?
Quanta Services’ stock recently traded up 3.1%, reaching $170.58 during midday trading on Tuesday. The stock has a market cap of $24.77 billion and a price-to-earnings ratio of 43.53.
What are the future earnings expectations for Quanta Services?
Research analysts predict that Quanta Services, Inc. will post 6.46 EPS for the current fiscal year. The company recently reported a slightly lower EPS of $1.47 for the quarter, missing analysts’ consensus estimates.
What are the price targets and ratings for Quanta Services?
Several research analysts have issued reports on Quanta Services, with price targets ranging from $190 to $248. MarketBeat reports that the average rating for Quanta Services is “Moderate Buy” with an average target price of $205.27. This indicates positive sentiment and future growth potential for the stock.