Quanta Services, Inc. $PWR Shares Bought by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,300 shares of the construction company’s stock after buying an additional 1,197 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Quanta Services were worth $8,431,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Copia Wealth Management raised its holdings in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after acquiring an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of 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 last quarter. Solstein Capital LLC grew its position in Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the period. Ameriflex Group Inc. raised its holdings in Quanta Services by 93.0% in the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after buying an additional 40 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. BMO Capital Markets lowered Quanta Services from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Wall Street Zen downgraded Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Mizuho set a $415.00 target price on shares of Quanta Services in a report on Tuesday, October 28th. Robert W. Baird set a $490.00 price target on Quanta Services in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Quanta Services from $436.00 to $457.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $438.64.

Quanta Services Stock Performance

NYSE:PWR opened at $426.88 on Friday. The firm has a market cap of $63.65 billion, a price-to-earnings ratio of 66.08, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $469.43. The company has a 50-day moving average of $420.01 and a 200-day moving average of $385.23. 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 (NYSE:PWR) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period last year, the company posted $2.72 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were given a $0.10 dividend. 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 dividend payout ratio is 5.93%.

Insiders Place Their Bets

In other Quanta Services news, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. The trade was a 69.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the sale, the director directly owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,002 shares of company stock worth $14,295,857 over the last three months. Company insiders own 1.10% of the company’s stock.

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.