Guinness Atkinson Asset Management Inc Sells 155 Shares of Quanta Services, Inc. $PWR

Guinness Atkinson Asset Management Inc decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 14.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 932 shares of the construction company’s stock after selling 155 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Quanta Services were worth $352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SCP Investment LP acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $966,000. Brighton Jones LLC bought a new position in Quanta Services in the 4th quarter valued at $298,000. Swedbank AB increased its stake in shares of Quanta Services by 50.5% in the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock valued at $304,269,000 after buying an additional 401,418 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Quanta Services during the second quarter worth $271,000. Finally, Voya Investment Management LLC lifted its stake in shares of Quanta Services by 8.6% during the first quarter. Voya Investment Management LLC now owns 598,067 shares of the construction company’s stock valued at $152,017,000 after acquiring an additional 47,469 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 3.2%

Shares of NYSE PWR opened at $441.09 on Monday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $447.17. The stock has a market cap of $65.73 billion, a price-to-earnings ratio of 68.28, a P/E/G ratio of 2.61 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The company’s fifty day moving average is $401.36 and its 200-day moving average is $368.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. The business 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 firm’s revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on PWR. UBS Group boosted their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Evercore ISI boosted their price target on shares of Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. BMO Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a report on Saturday. Finally, Jefferies Financial Group upgraded Quanta Services from a “hold” rating to a “buy” rating and raised their price target for the stock from $398.00 to $469.00 in a research report on Wednesday, September 24th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $411.59.

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.