Quanta Services, Inc. $PWR Position Raised by Bornite Capital Management LP

Bornite Capital Management LP grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 49.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 102,900 shares of the construction company’s stock after purchasing an additional 34,200 shares during the period. Quanta Services makes up approximately 3.9% of Bornite Capital Management LP’s holdings, making the stock its 5th largest position. Bornite Capital Management LP owned approximately 0.07% of Quanta Services worth $38,904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new position in Quanta Services during the first quarter valued at $25,000. Copia Wealth Management increased its holdings in shares of Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. raised its position 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. Solstein Capital LLC boosted its stake in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. Finally, WPG Advisers LLC purchased a new stake in Quanta Services during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

PWR has been the topic of several analyst reports. Truist Financial upped their target price on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a research report on Wednesday, October 8th. TD Cowen increased their target price on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Stifel Nicolaus set a $495.00 price target on Quanta Services in a research note on Monday, November 3rd. Finally, Roth Capital set a $500.00 price target on Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $438.64.

Quanta Services Stock Performance

PWR stock opened at $445.32 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $469.43. The company has a market cap of $66.40 billion, a P/E ratio of 68.93, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The stock’s fifty day moving average price is $414.54 and its 200-day moving average price is $381.42.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services’s revenue was up 17.5% on a year-over-year basis. During the same quarter 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. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Insider Activity at Quanta Services

In related news, Director Bernard Fried sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were 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 directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Worthing Jackman sold 6,349 shares of the 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 transaction, the director owned 2,730 shares in the company, valued at $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

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.