AE Wealth Management LLC Purchases Shares of 929 Quanta Services, Inc. $PWR

AE Wealth Management LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 929 shares of the construction company’s stock, valued at approximately $351,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PWR. Copia Wealth Management raised its position in Quanta Services by 509.1% during the 2nd 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. boosted its holdings in Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares in the last quarter. Solstein Capital LLC raised its holdings in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. Ameriflex Group Inc. lifted its position in shares of Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after purchasing an additional 40 shares during the period. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Quanta Services during the 2nd quarter valued at about $37,000. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PWR. Wall Street Zen downgraded Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Argus set a $540.00 price objective on Quanta Services in a research report on Friday, October 31st. Stifel Nicolaus set a $495.00 price target on shares of Quanta Services in a research note on Monday, November 3rd. Citigroup boosted their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, TD Cowen raised their target price on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, Quanta Services presently has an average rating of “Hold” and a consensus target price of $438.64.

Insider Buying and Selling

In other Quanta Services news, EVP Donald Wayne sold 14,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $443.81, for a total transaction 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 approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was 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 in the company, valued at $8,903,756.80. This trade represents a 27.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 32,002 shares of company stock valued at $14,295,857. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

PWR stock opened at $428.34 on Friday. The stock’s fifty day moving average price is $421.12 and its 200-day moving average price is $386.84. The company has a market cap of $63.87 billion, a P/E ratio of 66.31, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year 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.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.24 by $0.09. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s payout ratio is presently 5.93%.

Quanta Services 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.