ProShare Advisors LLC Purchases 3,075 Shares of Quanta Services, Inc. $PWR

ProShare Advisors LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 13.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,461 shares of the construction company’s stock after buying an additional 3,075 shares during the quarter. ProShare Advisors LLC’s holdings in Quanta Services were worth $9,626,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of Quanta Services during the second quarter worth $650,960,000. Nuveen LLC acquired a new stake in Quanta Services in the first quarter valued at $404,288,000. Amundi raised its position in Quanta Services by 188.3% during the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after purchasing an additional 788,079 shares during the last quarter. Jennison Associates LLC grew its position in shares of Quanta Services by 433.3% in the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock valued at $157,839,000 after buying an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after buying an additional 407,878 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR opened at $449.67 on Thursday. The stock has a 50 day moving average of $418.98 and a 200 day moving average of $384.94. The company has a market capitalization of $67.05 billion, a price-to-earnings ratio of 69.61, 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 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. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the previous year, the firm earned $2.72 earnings per share. The business’s revenue 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 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued a dividend of $0.10 per share. 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 5.93%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PWR. JPMorgan Chase & Co. upped their target price on Quanta Services from $436.00 to $457.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Argus set a $540.00 target price on shares of Quanta Services in a report on Friday, October 31st. Mizuho set a $415.00 price target on Quanta Services in a report on Tuesday, October 28th. Weiss Ratings lowered Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. Finally, UBS Group increased their price target on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Twelve analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $438.64.

Insider Activity at Quanta Services

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of the stock in a transaction on 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 completion of the transaction, the director directly owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The sale 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 Quanta Services stock in a transaction dated 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 approximately $8,903,756.80. This trade represents a 27.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 32,002 shares of company stock worth $14,295,857. Insiders own 1.10% of the company’s stock.

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.