Quanta Services, Inc. $PWR Stake Boosted by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.1% in the 2nd quarter, Holdings Channel reports. The firm owned 56,087 shares of the construction company’s stock after purchasing an additional 589 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Quanta Services were worth $20,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC bought a new stake in shares of Quanta Services during the 2nd quarter valued at about $650,960,000. Nuveen LLC bought a new position in shares of Quanta Services during the first quarter valued at approximately $404,288,000. Amundi lifted its holdings in shares of Quanta Services by 188.3% in the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after purchasing an additional 788,079 shares during the last quarter. Vanguard Group Inc. boosted 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 valued at $4,427,129,000 after purchasing an additional 407,878 shares during the period. Finally, Swedbank AB grew its stake in Quanta Services by 50.5% during the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock worth $304,269,000 after buying an additional 401,418 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Worthing Jackman sold 6,349 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total value of $2,859,907.05. Following the completion of the sale, the director directly owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. This represents a 69.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $452.19, for a total value of $1,808,760.00. Following the transaction, the director directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. This trade represents a 24.25% decrease in their position. The SEC filing for this sale provides additional information. 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.

Wall Street Analyst Weigh In

Several research analysts have commented on PWR shares. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. UBS Group upped their price target on shares of Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Truist Financial raised their price objective on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Jefferies Financial Group upped their target price on Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Sanford C. Bernstein cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target on the stock. in a research report on Monday, July 28th. Twelve analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Hold” and an average target price of $438.64.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $445.68 on Thursday. The stock’s fifty day simple moving average is $424.58 and its 200 day simple moving average is $389.46. The stock has a market capitalization of $66.46 billion, a price-to-earnings ratio of 68.99, a PEG ratio of 2.66 and a beta of 1.10. 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.

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 business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the company posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend 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 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.