1ST Source Bank Purchases 988 Shares of Quanta Services, Inc. $PWR

1ST Source Bank grew its position in Quanta Services, Inc. (NYSE:PWR) by 19.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,186 shares of the construction company’s stock after acquiring an additional 988 shares during the period. 1ST Source Bank’s holdings in Quanta Services were worth $2,339,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Quanta Services by 65.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 109,807 shares of the construction company’s stock worth $41,516,000 after purchasing an additional 43,309 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Quanta Services by 6.6% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 281,682 shares of the construction company’s stock valued at $106,498,000 after buying an additional 17,488 shares during the last quarter. Freemont Management S.A. lifted its position in Quanta Services by 31.3% during the 2nd quarter. Freemont Management S.A. now owns 6,300 shares of the construction company’s stock worth $2,382,000 after buying an additional 1,500 shares in the last quarter. Aviva PLC increased its position in Quanta Services by 7.5% in the 2nd quarter. Aviva PLC now owns 110,728 shares of the construction company’s stock valued at $41,864,000 after acquiring an additional 7,679 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Quanta Services by 171.0% in the second quarter. Los Angeles Capital Management LLC now owns 2,924 shares of the construction company’s stock worth $1,106,000 after acquiring an additional 1,845 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.5%

Shares of NYSE PWR opened at $445.32 on Friday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $469.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The stock has a market cap of $66.40 billion, a P/E ratio of 68.93, a P/E/G ratio of 2.66 and a beta of 1.10. The firm has a 50 day moving average price of $414.54 and a 200 day moving average price of $381.42.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 EPS 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 for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the business posted $2.72 EPS. The firm’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 expect that Quanta Services, Inc. will post 9.34 EPS for the current 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 paid 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 dividend payout ratio is presently 5.93%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Quanta Services from $436.00 to $457.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. BMO Capital Markets lowered Quanta Services from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. UBS Group boosted their target price on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. DA Davidson raised their price target on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Finally, TD Cowen lifted their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $438.64.

Insider Activity at Quanta Services

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Worthing Jackman sold 6,349 shares of the company’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 transaction, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This trade represents a 69.93% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

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.