Coldstream Capital Management Inc. Acquires 471 Shares of Quanta Services, Inc. $PWR

Coldstream Capital Management Inc. raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 10.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,828 shares of the construction company’s stock after purchasing an additional 471 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Quanta Services were worth $1,825,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Providence Wealth Advisors LLC purchased a new stake in Quanta Services in the 2nd quarter valued at about $204,000. Vestor Capital LLC bought a new stake in shares of Quanta Services during the second quarter valued at approximately $260,000. Quantum Private Wealth LLC boosted its holdings in shares of Quanta Services by 3.6% in the second quarter. Quantum Private Wealth LLC now owns 3,850 shares of the construction company’s stock valued at $1,456,000 after purchasing an additional 132 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Quanta Services by 2.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 902,031 shares of the construction company’s stock worth $341,040,000 after purchasing an additional 18,728 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Quanta Services by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 169,681 shares of the construction company’s stock worth $64,153,000 after purchasing an additional 7,934 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PWR. Argus set a $540.00 target price on Quanta Services in a research report on Friday, October 31st. Truist Financial raised their target price 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. The Goldman Sachs Group set a $495.00 price target on shares of Quanta Services in a report on Monday. DA Davidson increased their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Finally, Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a research note on Friday, October 31st. Twelve equities research 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, the company has a consensus rating of “Hold” and an average target price of $442.32.

Insiders Place Their Bets

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the transaction, the insider owned 19,960 shares in the company, valued at $8,903,756.80. This represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the completion of the sale, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Up 3.1%

Shares of Quanta Services stock opened at $443.42 on Tuesday. 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 has a market cap of $66.12 billion, a P/E ratio of 68.64, a PEG ratio of 2.66 and a beta of 1.10. The firm’s 50 day moving average price is $427.48 and its 200-day moving average price is $392.28. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $469.43.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share 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 during the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the firm earned $2.72 earnings per share. 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. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s payout ratio is 6.52%.

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.