Bogart Wealth LLC Has $7.17 Million Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Bogart Wealth LLC reduced its stake in Quanta Services, Inc. by 24.9% during Q2, holding shares worth approximately $7.17 million after selling 6,293 shares.
• The company reported a quarterly earnings per share (EPS) of $2.48, surpassing analysts' expectations, with a year-over-year revenue increase of 21.1% to $6.77 billion.
• Quanta Services recently announced a quarterly dividend of $0.10 per share, with an annualized dividend yield of 0.1%.

Bogart Wealth LLC lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 24.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 18,974 shares of the construction company's stock after selling 6,293 shares during the quarter. Bogart Wealth LLC's holdings in Quanta Services were worth $7,174,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Cullen Frost Bankers Inc. acquired a new stake in Quanta Services in the 1st quarter worth about $25,000. Copia Wealth Management increased its holdings in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company's stock valued at $25,000 after buying an additional 56 shares during the period. SOA Wealth Advisors LLC. increased its holdings in Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock valued at $26,000 after buying an additional 43 shares during the period. WPG Advisers LLC bought a new stake in shares of Quanta Services during the 1st quarter valued at approximately $31,000. Finally, Ameriflex Group Inc. grew its holdings in shares of Quanta Services by 93.0% during the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company's stock valued at $32,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Down 0.7%

Shares of NYSE PWR opened at $434.65 on Monday. The company has a market capitalization of $64.77 billion, a P/E ratio of 67.28, a price-to-earnings-growth ratio of 2.57 and a beta of 1.04. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $446.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company's 50 day moving average price is $396.43 and its 200-day moving average price is $362.48.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the company earned $1.90 EPS. The company's revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. 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. Investors of record on Wednesday, October 1st were given 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 payout ratio is presently 6.19%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. DA Davidson boosted their target price on shares of Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Wall Street Zen lowered shares of Quanta Services from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Truist Financial boosted their target price on shares of Quanta Services from $472.00 to $521.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Evercore ISI boosted their target price on shares of Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Mizuho began coverage on shares of Quanta Services in a report on Thursday, September 4th. They set a "neutral" rating and a $360.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $410.45.

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.

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