Aspen Investment Management Inc Has $1.28 Million Holdings in Quanta Services, Inc. $PWR

Aspen Investment Management Inc lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 11.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,397 shares of the construction company’s stock after purchasing an additional 341 shares during the period. Aspen Investment Management Inc’s holdings in Quanta Services were worth $1,284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Quanta Services by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after buying an additional 339,383 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Quanta Services by 4.1% during the second quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock worth $1,458,362,000 after acquiring an additional 152,823 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Quanta Services during the second quarter valued at $650,960,000. Nuveen LLC bought a new position in Quanta Services in the first quarter valued at about $404,288,000. Finally, Northern Trust Corp increased its position in Quanta Services by 3.8% in the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock worth $392,839,000 after purchasing an additional 56,081 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price 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. Stifel Nicolaus set a $495.00 price objective on shares of Quanta Services in a report on Monday, November 3rd. Wall Street Zen cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Finally, Evercore ISI increased their price target on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $438.64.

Quanta Services Price Performance

PWR stock opened at $439.09 on Wednesday. The stock has a 50-day moving average price of $423.47 and a two-hundred day moving average price of $389.06. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $469.43. The stock 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. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

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

Quanta Services Announces Dividend

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

Insider Buying and Selling at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction 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 owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 32,002 shares of company stock valued at $14,295,857 over the last ninety days. 1.10% of the stock is currently owned by company 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.