Cetera Investment Advisers Grows Stake in Quanta Services, Inc. $PWR

Cetera Investment Advisers increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,501 shares of the construction company’s stock after purchasing an additional 3,625 shares during the quarter. Cetera Investment Advisers’ holdings in Quanta Services were worth $19,472,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Copia Wealth Management boosted its holdings in shares of Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares during the last quarter. Solstein Capital LLC boosted its stake in Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares in the last quarter. Ameriflex Group Inc. grew its holdings in shares of Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after purchasing an additional 40 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the second quarter worth about $37,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Quanta Services stock opened at $439.09 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The business has a 50 day simple moving average of $423.47 and a 200-day simple moving average of $389.06. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $469.43. The stock has a market capitalization of $65.48 billion, a PE ratio of 67.97, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10.

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 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 company had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the previous year, the company posted $2.72 EPS. Quanta Services’s revenue 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. Equities 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. Investors of record on Wednesday, October 1st were given a $0.10 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is presently 5.93%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PWR. Robert W. Baird set a $490.00 target price on Quanta Services in a research report on Friday, October 31st. Sanford C. Bernstein lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price on the stock. in a research report on Monday, July 28th. Truist Financial upped their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Mizuho set a $415.00 price objective on shares of Quanta Services in a research report on Tuesday, October 28th. Finally, Stifel Nicolaus set a $495.00 target price on shares of Quanta Services in a report on Monday, November 3rd. Twelve analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $438.64.

Insiders Place Their Bets

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the completion of the transaction, the insider directly owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. This represents a 27.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the completion of the sale, the director owned 2,730 shares in the company, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 32,002 shares of company stock worth $14,295,857. Company 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.