Quanta Services Inc. (NYSE:PWR) recently experienced a shift in investment as First Republic Investment Management Inc. reduced its stake in the company by 3.6% during the first quarter, according to a disclosure with the Securities & Exchange Commission. The investment management firm sold 3,862 shares, resulting in a holding of 103,642 shares valued at approximately $17,271,000.
This strategic decision by First Republic Investment Management Inc. demonstrates their adaptability and willingness to reassess their investment portfolio. Other institutional investors and hedge funds have also made moves in the stock. Jones Financial Companies Lllp increased its stake by an impressive 2,400.0%, while ICA Group Wealth Management LLC, Coppell Advisory Solutions Corp., Venturi Wealth Management LLC, and TFC Financial Management Inc. all made new investments in Quanta Services.
Meanwhile, the company’s VP, Dorothy Upperman, recently sold 4,074 shares of Quanta Services stock. This transaction took place on June 7th, with the shares being sold at an average price of $183.87, resulting in a total value of $749,086.38. Upperman now holds 13,078 shares in the company.
As for the experts on Wall Street, they have provided valuable insights into Quanta Services. UBS Group, Credit Suisse Group, and Citigroup have all published reports on the company, issuing price targets and ratings. Based on their research, the average rating for the stock is currently “Moderate Buy” with a consensus price target of $199.91.
Quanta Services, Inc. is listed on the New York Stock Exchange under the ticker symbol PWR. The stock opened at $212.36 on Friday, with a 52-week low of $123.25 and a 52-week high of $212.82. The company has a market cap of $30.83 billion and a PE ratio of 54.17. Quanta Services operates in the electric and gas utility, renewable energy, communications, and pipeline and energy industries globally.
In its recent earnings report, Quanta Services reported an EPS of $1.47 for the quarter, slightly missing the consensus estimate of $1.53. The company generated $5.05 billion in revenue, surpassing analysts’ expectations of $4.69 billion. Quanta Services has a net margin of 3.16% and a return on equity of 15.48%. Analysts forecast that the company will post 6.47 EPS for the current fiscal year.
Furthermore, Quanta Services has announced a quarterly dividend. Stockholders of record on October 2nd will receive a dividend of $0.08 per share on October 13th. This represents an annualized dividend of $0.32 and a dividend yield of 0.15%.
Quanta Services, Inc. provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. The company specializes in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities, as well as the installation, maintenance, and upgrade of electric power infrastructure projects. They are also involved in the design, installation, maintenance, and repair of commercial and industrial wirings.
If you’re interested in seeing more detailed information about Quanta Services, including filings and insider trades, you can visit HoldingsChannel.com for the latest 13F reports and updates on the company.
Frequently Asked Questions (FAQ)
- 1. What does First Republic Investment Management Inc. decreasing its stake in Quanta Services mean?
- First Republic Investment Management Inc. sold 3,862 shares of Quanta Services during the first quarter, which indicates a reduction in their investment in the company.
- 2. What does the average rating of “Moderate Buy” mean?
- Based on the research reports from UBS Group, Credit Suisse Group, and Citigroup, the average rating for Quanta Services is “Moderate Buy.” This suggests that analysts believe the stock has potential for growth, but it is not a strong buy recommendation.
- 3. What is the dividend payout ratio for Quanta Services?
- Currently, Quanta Services has a dividend payout ratio of 8.16%, which represents the portion of earnings that is distributed to shareholders as dividends.
- 4. What is the market cap of Quanta Services?
- Quanta Services has a market capitalization of $30.83 billion, which indicates the total market value of the company’s outstanding shares.
- 5. What industries does Quanta Services operate in?
- Quanta Services operates in the electric and gas utility, renewable energy, communications, and pipeline and energy industries.