Advisors Capital Management LLC Grows Stock Position in Quanta Services, Inc. $PWR

Advisors Capital Management LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 44.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,472 shares of the construction company’s stock after acquiring an additional 456 shares during the quarter. Advisors Capital Management LLC’s holdings in Quanta Services were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Copia Wealth Management increased its stake in shares of Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares during the period. SOA Wealth Advisors LLC. increased its position in shares of 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 during the period. Solstein Capital LLC raised its stake in shares of Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. Ameriflex Group Inc. boosted its holdings in shares of Quanta Services by 93.0% during the second 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 in the second quarter worth about $37,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.3%

PWR opened at $428.34 on Monday. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $469.43. 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 firm has a 50-day simple moving average of $421.12 and a two-hundred day simple moving average of $387.50. The company has a market capitalization of $63.87 billion, a PE ratio of 66.31, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10.

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

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued a $0.10 dividend. 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 dividend payout ratio (DPR) is 5.93%.

Insider Buying and Selling at Quanta Services

In related news, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the sale, the director owned 2,730 shares in the company, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald Wayne sold 14,000 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the transaction, 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 position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 32,002 shares of company stock worth $14,295,857. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PWR. Wall Street Zen cut Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Citigroup lifted their price target on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Quanta Services from $436.00 to $457.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Argus set a $540.00 target price on shares of Quanta Services in a research report on Friday, October 31st. Finally, Sanford C. Bernstein lowered 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 research note on Monday, July 28th. Twelve research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $438.64.

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.