Boothbay Fund Management LLC Sells 1,024 Shares of Quanta Services, Inc. $PWR

Key Points

• Boothbay Fund Management LLC reduced its stake in Quanta Services, Inc. by 2.8% during the first quarter, now holding shares worth approximately $9.20 million.
• Quanta Services reported a 21.1% increase in revenue compared to the same quarter last year, achieving $2.48 earnings per share—slightly above the consensus estimate.
• The company has declared a quarterly dividend of $0.10 per share, set to be paid on October 10th, reflecting a 0.1% dividend yield.

Boothbay Fund Management LLC reduced its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,207 shares of the construction company's stock after selling 1,024 shares during the period. Boothbay Fund Management LLC's holdings in Quanta Services were worth $9,203,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in Quanta Services by 4.1% in the 1st quarter. AQR Capital Management LLC now owns 41,533 shares of the construction company's stock worth $10,320,000 after buying an additional 1,622 shares during the period. Ardsley Advisory Partners LP bought a new position in Quanta Services in the 1st quarter worth approximately $3,813,000. Advisors Asset Management Inc. increased its position in Quanta Services by 10.7% in the 1st quarter. Advisors Asset Management Inc. now owns 54,735 shares of the construction company's stock worth $13,913,000 after buying an additional 5,312 shares during the period. Alyeska Investment Group L.P. bought a new position in Quanta Services in the 1st quarter worth approximately $5,739,000. Finally, Amundi increased its position in Quanta Services by 188.3% in the 1st quarter. Amundi now owns 1,206,577 shares of the construction company's stock worth $304,139,000 after buying an additional 788,079 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

PWR stock traded down $3.53 during trading on Friday, hitting $372.56. The company had a trading volume of 1,128,430 shares, compared to its average volume of 846,491. The company has a fifty day moving average price of $387.38 and a two-hundred day moving average price of $330.88. 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 $55.52 billion, a P/E ratio of 57.67, a P/E/G ratio of 2.21 and a beta of 1.01. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services's quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Wall Street Analyst Weigh In

PWR has been the topic of several recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $370.00 price target (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Truist Financial lifted their price objective on Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Citigroup lifted their price objective on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Thirteen 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, Quanta Services currently has a consensus rating of "Moderate Buy" and an average price target of $397.18.

Quanta Services Company 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.