Avantax Advisory Services Inc. Increases Position in Quanta Services, Inc. $PWR

Avantax Advisory Services Inc. lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,793 shares of the construction company’s stock after purchasing an additional 682 shares during the period. Avantax Advisory Services Inc.’s holdings in Quanta Services were worth $6,349,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Copia Wealth Management lifted its position in shares of 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 acquiring an additional 56 shares during the period. SOA Wealth Advisors LLC. increased its stake 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 purchasing an additional 43 shares in the last quarter. Solstein Capital LLC raised its holdings in Quanta Services by 185.7% during 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 last quarter. WPG Advisers LLC purchased a new stake in Quanta Services during the first quarter worth $31,000. Finally, Ameriflex Group Inc. grew its holdings in Quanta Services by 93.0% in 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 last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PWR shares. Stifel Nicolaus set a $495.00 price target on Quanta Services in a research note on Monday, November 3rd. Roth Capital set a $500.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 31st. Citigroup increased their price target on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research report on Friday, October 31st. UBS Group raised their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Mizuho set a $415.00 target price on Quanta Services in a research note on Tuesday, October 28th. Twelve investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $438.64.

Quanta Services Trading Up 2.9%

Shares of PWR stock opened at $439.09 on Wednesday. The firm’s 50-day simple moving average is $423.47 and its 200-day simple moving average is $389.06. 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, Inc. has a 1-year low of $227.08 and a 1-year high of $469.43. The firm has a market cap of $65.48 billion, a P/E ratio of 67.97, a PEG ratio of 2.66 and a beta of 1.10.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping 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%. Quanta Services’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 business posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were given a $0.10 dividend. 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 5.93%.

Insider Transactions at Quanta Services

In other news, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $452.19, for a total value of $1,808,760.00. Following the transaction, the director directly owned 12,493 shares of the company’s stock, valued at $5,649,209.67. The trade was a 24.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $6,213,340.00. Following the sale, the executive vice president owned 34,575 shares of the company’s stock, valued at $15,344,730.75. The trade was a 28.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 over the last ninety days. 1.10% of the stock is owned by insiders.

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.