Donald Wayne Sells 14,000 Shares of Quanta Services (NYSE:PWR) Stock

Quanta Services, Inc. (NYSE:PWR) EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the transaction, the executive vice president owned 34,575 shares in the company, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Quanta Services Price Performance

PWR opened at $449.16 on Wednesday. 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’s 50-day moving average price is $417.47 and its 200 day moving average price is $384.48. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $469.43. The firm has a market cap of $66.98 billion, a price-to-earnings ratio of 69.53, 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, beating the consensus estimate of $3.24 by $0.09. The company had revenue of $7.63 billion during the quarter, compared to analyst estimates 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 was up 17.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 5.93%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PWR shares. Citigroup increased their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings lowered shares of Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Roth Capital set a $500.00 price objective on Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. DA Davidson raised their target price on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Finally, TD Cowen boosted their price target on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $438.64.

Hedge Funds Weigh In On Quanta Services

Several hedge funds have recently modified their holdings of PWR. Cullen Frost Bankers Inc. bought a new position in Quanta Services during the first quarter valued at about $25,000. Copia Wealth Management boosted 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 purchasing an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Quanta Services in the 2nd quarter worth approximately $26,000. Finally, Activest Wealth Management lifted its stake in Quanta Services by 94.1% during the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after purchasing an additional 32 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.