Quanta Services, Inc. $PWR Stock Holdings Raised by Allworth Financial LP

Allworth Financial LP grew its stake in Quanta Services, Inc. (NYSE:PWR) by 135.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,399 shares of the construction company’s stock after purchasing an additional 2,529 shares during the quarter. Allworth Financial LP’s holdings in Quanta Services were worth $1,663,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. ProShare Advisors LLC lifted its holdings in Quanta Services by 13.7% during the 2nd quarter. ProShare Advisors LLC now owns 25,461 shares of the construction company’s stock worth $9,626,000 after buying an additional 3,075 shares during the last quarter. Profund Advisors LLC raised its position in shares of Quanta Services by 31.7% during the 2nd quarter. Profund Advisors LLC now owns 2,092 shares of the construction company’s stock valued at $791,000 after acquiring an additional 503 shares in the last quarter. Bornite Capital Management LP lifted its stake in Quanta Services by 49.8% during the second quarter. Bornite Capital Management LP now owns 102,900 shares of the construction company’s stock worth $38,904,000 after purchasing an additional 34,200 shares during the last quarter. PFG Advisors boosted its holdings in Quanta Services by 22.4% in the second quarter. PFG Advisors now owns 11,796 shares of the construction company’s stock worth $4,460,000 after purchasing an additional 2,155 shares during the period. Finally, SFE Investment Counsel increased its stake in Quanta Services by 7.6% during the second quarter. SFE Investment Counsel now owns 17,142 shares of the construction company’s stock valued at $6,481,000 after purchasing an additional 1,208 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Quanta Services

In related news, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 12,493 shares in the company, valued at $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the sale, the executive vice president owned 34,575 shares of the company’s stock, valued at $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,002 shares of company stock valued at $14,295,857 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Argus set a $540.00 price target on shares of Quanta Services in a research report on Friday, October 31st. Truist Financial raised their target price on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Citigroup upped their target price on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a report on Friday, October 31st. Roth Capital set a $500.00 price target on Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Twelve analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $438.64.

Quanta Services Stock Performance

Shares of PWR stock opened at $426.88 on Friday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $469.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The firm has a market capitalization of $63.65 billion, a price-to-earnings ratio of 66.08, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The business has a 50 day simple moving average of $420.01 and a 200 day simple moving average of $385.23.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The company 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%.The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.72 EPS. 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 year.

Quanta Services Dividend Announcement

The business 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. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is presently 5.93%.

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.