Busey Bank Has $601,000 Position in Quanta Services, Inc. $PWR

Key Points

• Busey Bank reduced its stake in Quanta Services, Inc. by 30.2% in Q2, holding 1,590 shares valued at approximately $601,000 after selling 688 shares.
• The company's latest earnings report revealed a quarterly EPS of $2.48, exceeding analysts' expectations, with revenue increasing by 21.1% year-over-year to $6.77 billion.
• Quanta Services announced a quarterly dividend of $0.10 per share, highlighting its ongoing commitment to returning value to shareholders.

Busey Bank trimmed its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 30.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,590 shares of the construction company's stock after selling 688 shares during the period. Busey Bank's holdings in Quanta Services were worth $601,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PWR. CX Institutional raised its stake in Quanta Services by 10.3% in the second quarter. CX Institutional now owns 811 shares of the construction company's stock worth $307,000 after buying an additional 76 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Quanta Services during the 2nd quarter valued at approximately $650,960,000. IFM Investors Pty Ltd boosted its holdings in Quanta Services by 2.2% during the second quarter. IFM Investors Pty Ltd now owns 28,636 shares of the construction company's stock worth $10,827,000 after buying an additional 603 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in Quanta Services during the second quarter worth about $146,000. Finally, YHB Investment Advisors Inc. boosted its stake in shares of Quanta Services by 2.0% in the second quarter. YHB Investment Advisors Inc. now owns 1,919 shares of the construction company's stock valued at $726,000 after purchasing an additional 38 shares during the period. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 0.3%

Shares of PWR traded down $1.31 during mid-day trading on Friday, hitting $389.34. 1,493,178 shares of the company's stock were exchanged, compared to its average volume of 848,449. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The company has a market cap of $58.02 billion, a PE ratio of 60.27, a P/E/G ratio of 2.31 and a beta of 1.01. The company has a 50-day simple moving average of $387.90 and a 200 day simple moving average of $340.01.

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

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Citigroup lifted their price objective on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Piper Sandler reiterated 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. Wall Street Zen lowered Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price for the company. in a research note on Wednesday, July 2nd. Twelve equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $401.19.

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.