Nixon Peabody Trust Co. Buys 1,415 Shares of Quanta Services, Inc. $PWR

Nixon Peabody Trust Co. raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 8.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,230 shares of the construction company’s stock after purchasing an additional 1,415 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Quanta Services were worth $6,892,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. SCP Investment LP bought a new stake in shares of Quanta Services in the first quarter worth about $966,000. Brighton Jones LLC acquired a new position in shares of Quanta Services in the 4th quarter valued at approximately $298,000. Swedbank AB increased its stake in Quanta Services by 50.5% during the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock worth $304,269,000 after purchasing an additional 401,418 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Quanta Services during the 2nd quarter worth approximately $271,000. Finally, PNC Financial Services Group Inc. lifted its stake in Quanta Services by 0.9% in the second quarter. PNC Financial Services Group Inc. now owns 606,414 shares of the construction company’s stock valued at $229,273,000 after buying an additional 5,670 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PWR. TD Cowen raised their price objective on shares of Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Truist Financial upped their price target on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Argus set a $540.00 price objective on shares of Quanta Services in a research note on Friday, October 31st. Finally, Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Twelve research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $438.64.

Insider Transactions at Quanta Services

In related news, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the transaction, the executive vice president directly owned 34,575 shares in the company, valued at approximately $15,344,730.75. This represents a 28.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,808,760.00. Following the completion of the sale, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This trade represents a 24.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 32,002 shares of company stock worth $14,295,857 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR stock opened at $426.88 on Friday. The company has a market capitalization of $63.65 billion, a price-to-earnings ratio of 66.08, a PEG ratio of 2.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $469.43. The company has a 50-day simple moving average of $420.01 and a 200 day simple moving average of $385.23.

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

Quanta Services Announces Dividend

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

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.