Bailard Inc. Raises Stake in Quanta Services, Inc. $PWR

Bailard Inc. boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 29.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,729 shares of the construction company’s stock after buying an additional 1,062 shares during the quarter. Bailard Inc.’s holdings in Quanta Services were worth $1,788,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services during the 1st quarter valued at approximately $25,000. Copia Wealth Management lifted its stake in Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. grew its holdings in Quanta Services by 159.3% during the second 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 period. Solstein Capital LLC increased its position in Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of Quanta Services in the first quarter valued at $31,000. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PWR shares. Argus set a $540.00 price target on Quanta Services in a research note on Friday, October 31st. Truist Financial increased their target price on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Sanford C. Bernstein lowered shares of 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. DA Davidson raised their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Finally, TD Cowen boosted their target price on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $438.64.

Quanta Services Trading Down 5.0%

Shares of PWR stock opened at $426.88 on Friday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $469.43. The business’s fifty day moving average is $420.01 and its 200 day moving average is $385.23. 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 company has a market capitalization of $63.65 billion, a PE ratio of 66.08, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10.

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 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 firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter last year, the firm 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. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a $0.10 dividend. 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 currently 5.93%.

Insider Activity at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction 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 sale, the director owned 2,730 shares in the company, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction 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 sale, the director directly owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,002 shares of company stock worth $14,295,857 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

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.