Nixon Peabody Trust Co. Has $6.89 Million Holdings in Quanta Services, Inc. $PWR

Nixon Peabody Trust Co. boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 8.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,230 shares of the construction company’s stock after acquiring an additional 1,415 shares during the period. Nixon Peabody Trust Co.’s holdings in Quanta Services were worth $6,892,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new position in Quanta Services in the 1st quarter worth approximately $25,000. Copia Wealth Management raised its stake in Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Solstein Capital LLC increased its holdings in shares of Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. Finally, WPG Advisers LLC acquired a new position in shares of Quanta Services during the first quarter valued at about $31,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

NYSE:PWR opened at $426.88 on Friday. The stock has a market capitalization of $63.65 billion, a P/E ratio of 66.08, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $469.43. The firm has a 50 day moving average of $420.01 and a 200-day moving average of $385.23.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The firm had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts anticipate 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 was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services’s dividend payout ratio is 5.93%.

Insider Activity at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the sale, the insider owned 19,960 shares in the company, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the transaction, the executive vice president owned 34,575 shares in the company, valued at $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. TD Cowen increased their price objective 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 set a $415.00 target price on shares of Quanta Services in a research note on Tuesday, October 28th. Wall Street Zen downgraded Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Truist Financial raised their target price on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Twelve research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $438.64.

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.