Quanta Services, Inc. $PWR is Bourne Lent Asset Management Inc.'s 8th Largest Position

Key Points

• Bourne Lent Asset Management Inc. has reduced its holdings in Quanta Services, Inc. by 3.6%, making it the 8th largest position in its portfolio, valued at approximately $11.37 million.
• Quanta Services reported a quarterly EPS of $2.48, exceeding analyst expectations, and its revenue reached $6.77 billion, reflecting a 21.1% year-over-year increase.
• The company recently declared a quarterly dividend of $0.10 per share, which will be paid out on October 10th, representing an annualized yield of 0.1%.

Bourne Lent Asset Management Inc. decreased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,080 shares of the construction company's stock after selling 1,110 shares during the quarter. Quanta Services comprises approximately 4.4% of Bourne Lent Asset Management Inc.'s portfolio, making the stock its 8th biggest holding. Bourne Lent Asset Management Inc.'s holdings in Quanta Services were worth $11,373,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PWR. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services in the 1st quarter valued at about $25,000. WPG Advisers LLC bought a new position in Quanta Services during the 1st quarter worth $31,000. AlphaQuest LLC bought a new position in shares of Quanta Services in the first quarter worth $35,000. Zions Bancorporation National Association UT bought a new position in shares of Quanta Services in the first quarter worth $40,000. Finally, OLD Second National Bank of Aurora acquired a new stake in shares of Quanta Services in the first quarter valued at $42,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

PWR stock opened at $382.50 on Monday. The company has a market capitalization of $56.99 billion, a P/E ratio of 59.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.01. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The business has a 50-day simple moving average of $387.66 and a two-hundred day simple moving average of $335.35.

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

Quanta Services Announces Dividend

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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services's dividend payout ratio is presently 6.19%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PWR shares. Mizuho initiated coverage on Quanta Services in a research note on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price objective for the company. TD Cowen raised their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Finally, Truist Financial upped their price objective on Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.

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