Vontobel Holding Ltd. Lowers Stake in Quanta Services, Inc. $PWR

Vontobel Holding Ltd. reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 13.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 185,553 shares of the construction company’s stock after selling 29,714 shares during the period. Vontobel Holding Ltd.’s holdings in Quanta Services were worth $70,154,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Quanta Services in the second quarter valued at about $650,960,000. Nuveen LLC purchased a new stake in shares of Quanta Services in the first quarter valued at about $404,288,000. Northern Trust Corp boosted its holdings in shares of 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 boosted its holdings in shares of 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. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of PWR opened at $443.56 on Thursday. 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 stock has a market cap of $66.09 billion, a P/E ratio of 68.66, a PEG ratio of 2.50 and a beta of 1.04. The company has a 50-day moving average of $390.85 and a two-hundred day moving average of $352.87. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $443.97.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Quanta Services in a research note on Wednesday. Northland Capmk cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. DA Davidson raised their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Finally, BMO Capital Markets cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $406.50.

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.