Bourgeon Capital Management LLC Cuts Stock Position in Quanta Services, Inc. $PWR

Key Points

• Bourgeon Capital Management LLC reduced its stake in Quanta Services, Inc. by 51.1%, leaving it with 18,507 shares valued at approximately $6.99 million.
• Quanta Services recently reported Q2 earnings of $2.48 per share, surpassing estimates, and a 21.1% increase in revenue year-over-year, amounting to $6.77 billion.
• The company also announced a quarterly dividend of $0.10 per share, translating to an annual yield of 0.1%, highlighting its ongoing commitment to returning value to shareholders.

Bourgeon Capital Management LLC decreased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 51.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,507 shares of the construction company's stock after selling 19,362 shares during the period. Bourgeon Capital Management LLC's holdings in Quanta Services were worth $6,997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SCP Investment LP purchased a new stake in Quanta Services during the 1st quarter worth $966,000. Brighton Jones LLC bought a new stake in shares of Quanta Services in the 4th quarter worth about $298,000. Swedbank AB increased its position in shares of Quanta Services by 50.5% in the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company's stock worth $304,269,000 after purchasing an additional 401,418 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after purchasing an additional 2,479 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after purchasing an additional 588 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Trading Up 0.9%

Shares of NYSE:PWR opened at $409.12 on Tuesday. The company has a 50 day moving average of $388.67 and a 200-day moving average of $346.40. The firm has a market cap of $60.96 billion, a P/E ratio of 63.33, a P/E/G ratio of 2.41 and a beta of 1.01. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last released its 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. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the business earned $1.90 earnings per share. The business's quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PWR shares. Mizuho started coverage on shares of Quanta Services in a research report on Thursday, September 4th. They issued a "neutral" rating and a $360.00 target price for the company. The Goldman Sachs Group reissued a "buy" rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. 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 research report on Friday, August 1st. Sanford C. Bernstein downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price for the company. in a research report on Monday, July 28th. Finally, BMO Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and an average price target of $404.27.

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.

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