DNB Asset Management AS Reduces Stock Position in Quanta Services, Inc. $PWR

DNB Asset Management AS lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,817 shares of the construction company’s stock after selling 832 shares during the quarter. DNB Asset Management AS’s holdings in Quanta Services were worth $19,213,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new position in Quanta Services in the 2nd quarter worth about $650,960,000. Nuveen LLC bought a new position in Quanta Services in the 1st quarter worth about $404,288,000. Amundi increased its position in shares of Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after acquiring an additional 788,079 shares during the period. Vanguard Group Inc. raised its stake in shares of Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after acquiring an additional 407,878 shares in the last quarter. Finally, Swedbank AB boosted its holdings in shares of Quanta Services by 50.5% in the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock valued at $304,269,000 after purchasing an additional 401,418 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 19,960 shares of the company’s stock, valued at $8,903,756.80. This trade represents a 27.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 2,730 shares in the company, valued at approximately $1,229,728.50. This represents a 69.93% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Up 0.1%

Shares of Quanta Services stock opened at $430.17 on Friday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $469.43. The firm’s 50 day moving average price is $426.33 and its 200-day moving average price is $390.48. 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 has a market cap of $64.15 billion, a P/E ratio of 66.59, a PEG ratio of 2.66 and a beta of 1.10.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.09. The company had revenue of $7.63 billion during 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%. Quanta Services’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced 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. 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 dividend payout ratio is currently 6.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PWR shares. Roth Capital set a $500.00 target price on Quanta Services and gave the company a “buy” rating in a research report on Friday, October 31st. UBS Group lifted their price objective on Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a report on Friday, July 25th. Sanford C. Bernstein cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price on the stock. in a report on Monday, July 28th. Evercore ISI raised their target price on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Robert W. Baird set a $490.00 price target on shares of Quanta Services in a research report on Friday, October 31st. Twelve analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Hold” and a consensus price target of $438.64.

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.