Advisors Asset Management Inc. Sells 4,175 Shares of Quanta Services, Inc. $PWR

Advisors Asset Management Inc. lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,560 shares of the construction company’s stock after selling 4,175 shares during the period. Advisors Asset Management Inc.’s holdings in Quanta Services were worth $19,116,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC acquired a new stake in shares of Quanta Services during the fourth quarter worth $298,000. Avantax Advisory Services Inc. boosted its position in shares of Quanta Services by 7.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 16,111 shares of the construction company’s stock valued at $4,095,000 after purchasing an additional 1,105 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Quanta Services during the first quarter worth approximately $12,169,000. Empirical Finance LLC increased its holdings in Quanta Services by 2.4% in the first quarter. Empirical Finance LLC now owns 4,995 shares of the construction company’s stock worth $1,270,000 after purchasing an additional 115 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Quanta Services by 19.2% during the 1st quarter. LPL Financial LLC now owns 238,596 shares of the construction company’s stock worth $60,646,000 after buying an additional 38,449 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR opened at $443.42 on Tuesday. The stock has a 50 day moving average of $427.48 and a 200 day moving average of $392.28. The company has a market capitalization of $66.12 billion, a price-to-earnings ratio of 68.64, a PEG ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $469.43. 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 announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The firm had revenue of $7.63 billion during 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 business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.72 EPS. 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 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services’s payout ratio is currently 6.52%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PWR shares. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Mizuho set a $415.00 price objective on shares of Quanta Services in a report on Tuesday, October 28th. Jefferies Financial Group raised their target price on Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Roth Capital set a $500.00 price target on Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, The Goldman Sachs Group set a $495.00 price objective on Quanta Services in a research note on Monday. Twelve investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Hold” and a consensus price target of $442.32.

Insider Activity at Quanta Services

In related news, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction that occurred on 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 owned 12,493 shares in the company, valued at approximately $5,649,209.67. This represents a 24.25% 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 link. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 19,960 shares of the company’s stock, valued at $8,903,756.80. This represents a 27.72% 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 in the last three months. Insiders own 1.10% of the company’s stock.

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.