TBH Global Asset Management LLC Sells 42 Shares of Quanta Services, Inc. $PWR

TBH Global Asset Management LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,929 shares of the construction company’s stock after selling 42 shares during the quarter. TBH Global Asset Management LLC’s holdings in Quanta Services were worth $1,864,000 as of its most recent SEC filing.

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

Quanta Services Stock Up 1.4%

PWR opened at $406.00 on Friday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The company has a market cap of $60.50 billion, a PE ratio of 62.85, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. 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 50 day moving average of $388.49 and a 200 day moving average of $344.71.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, sell-side analysts expect 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. Stockholders of record on Wednesday, October 1st will be given 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 currently 6.19%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PWR. Seaport Res Ptn upgraded Quanta Services to a “hold” rating in a research note on Thursday, July 10th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. TD Cowen boosted their target price on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Mizuho began coverage on shares of Quanta Services in a research note on Thursday, September 4th. They set a “neutral” rating and a $360.00 price target for the company. Finally, Wall Street Zen downgraded Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $404.27.

Quanta Services 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.