Mengis Capital Management Inc. Sells 6,966 Shares of Quanta Services, Inc. $PWR

Key Points

• Mengis Capital Management Inc. reduced its stake in Quanta Services, Inc. by 19.9% during the 2nd quarter, now holding 27,970 shares worth approximately $10.57 million.
• Quanta Services reported a 21.1% year-over-year increase in revenue, reaching $6.77 billion, with earnings per share of $2.48 for the last quarter.
• The company has announced a quarterly dividend of $0.10 per share, representing a 0.1% dividend yield, with the ex-dividend date on October 1st.

Mengis Capital Management Inc. lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 19.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,970 shares of the construction company's stock after selling 6,966 shares during the quarter. Quanta Services comprises about 2.2% of Mengis Capital Management Inc.'s holdings, making the stock its 10th biggest holding. Mengis Capital Management Inc.'s holdings in Quanta Services were worth $10,575,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after acquiring an additional 407,878 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Quanta Services in the second quarter valued at approximately $650,960,000. Nuveen LLC acquired a new stake in Quanta Services in the first quarter valued at approximately $404,288,000. Northern Trust Corp raised its holdings in Quanta Services by 3.8% in the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock valued at $392,839,000 after acquiring an additional 56,081 shares in the last quarter. Finally, Amundi raised its holdings in Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock valued at $304,139,000 after acquiring an additional 788,079 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of PWR opened at $429.69 on Friday. 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 firm has a market cap of $64.03 billion, a PE ratio of 66.52, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04. The company's 50 day simple moving average is $391.35 and its 200-day simple moving average is $353.91. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $443.97.

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 for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the company earned $1.90 earnings per share. 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. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be issued 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 dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Mizuho assumed coverage on shares of Quanta Services in a research note on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price target on the stock. Truist Financial increased their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a "buy" rating in a research note on Wednesday. Northland Securities lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target on the stock. in a research note on Wednesday, July 2nd. Finally, Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Quanta Services has an average rating of "Moderate Buy" and a consensus target price of $408.45.

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.

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