Vanguard Group Inc. Raises Stock Position in Quanta Services, Inc. $PWR

Vanguard Group Inc. raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,756,682 shares of the construction company’s stock after purchasing an additional 339,383 shares during the period. Vanguard Group Inc. owned 11.92% of Quanta Services worth $6,713,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PWR. Old Port Advisors lifted its holdings in Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after purchasing an additional 26 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in Quanta Services by 1.2% in the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after acquiring an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock worth $242,000 after purchasing an additional 32 shares during the period. Frank Rimerman Advisors LLC boosted its stake in Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock worth $792,000 after buying an additional 34 shares during the period. Finally, Eastern Bank increased its holdings in Quanta Services by 23.5% in the 2nd quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insiders Place Their Bets

In other news, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the completion of the sale, the director owned 2,730 shares in the company, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the transaction, the director owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Argus set a $540.00 price objective on Quanta Services in a report on Friday, October 31st. Truist Financial boosted their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Jefferies Financial Group raised their price objective on shares of Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. TD Cowen upped their target price on shares of Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Finally, Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Twelve investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $438.64.

Quanta Services Stock Up 2.9%

Shares of Quanta Services stock opened at $439.09 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $469.43. The company has a market capitalization of $65.48 billion, a P/E ratio of 67.97, a P/E/G ratio of 2.66 and a beta of 1.10. The company has a 50 day moving average of $423.47 and a 200 day moving average of $389.06.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s payout ratio is 5.93%.

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.