ARS Investment Partners LLC Purchases 65,230 Shares of Quanta Services, Inc. $PWR

ARS Investment Partners LLC boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1,477.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,644 shares of the construction company’s stock after purchasing an additional 65,230 shares during the period. Quanta Services comprises 1.9% of ARS Investment Partners LLC’s holdings, making the stock its 21st biggest holding. ARS Investment Partners LLC’s holdings in Quanta Services were worth $26,331,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PWR. Copia Wealth Management raised its holdings 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. grew its position in Quanta Services by 159.3% in the 2nd 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 last quarter. Solstein Capital LLC increased its stake 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 purchasing an additional 52 shares during the period. WPG Advisers LLC bought a new stake in shares of Quanta Services during the first quarter worth $31,000. Finally, Ameriflex Group Inc. boosted its stake 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 valued at $32,000 after purchasing an additional 40 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PWR. Truist Financial raised their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Argus set a $540.00 price target on shares of Quanta Services in a research note on Friday, October 31st. Citigroup increased their price objective on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Sanford C. Bernstein downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective on the stock. in a report on Monday, July 28th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of “Hold” and a consensus target price of $438.64.

Insiders Place Their Bets

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were 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 of the company’s stock, valued at $8,903,756.80. This trade represents a 27.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is owned by corporate insiders.

Quanta Services Trading Up 2.9%

NYSE PWR opened at $439.09 on Wednesday. The firm has a market cap of $65.48 billion, a PE ratio of 67.97, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. 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 company has a 50 day moving average price of $423.47 and a 200 day moving average price of $389.06.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the company earned $2.72 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS 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 given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s dividend payout ratio is currently 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.