Quanta Services, Inc. $PWR Shares Bought by Forsta AP Fonden

Forsta AP Fonden lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,000 shares of the construction company’s stock after purchasing an additional 400 shares during the quarter. Forsta AP Fonden’s holdings in Quanta Services were worth $11,720,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Old Port Advisors increased its holdings in shares of Quanta Services by 0.7% in the second quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after buying an additional 26 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its position in Quanta Services by 1.2% during the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after purchasing an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Quanta Services by 3.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after acquiring an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after buying an additional 34 shares in the last quarter. Finally, Eastern Bank lifted its stake in shares of Quanta Services by 23.5% in the second quarter. Eastern Bank now owns 184 shares of the construction company’s stock worth $70,000 after buying an additional 35 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was 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 directly owned 2,730 shares in the company, valued at $1,229,728.50. This trade represents a 69.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Bernard Fried sold 4,000 shares of the firm’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 value of $1,808,760.00. Following the completion of the sale, the director directly 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 disclosure for this sale is available in the SEC filing. Insiders sold 32,002 shares of company stock worth $14,295,857 over the last quarter. Company insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 0.2%

Shares of PWR stock opened at $449.67 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $469.43. The stock’s fifty day simple moving average is $418.98 and its 200 day simple moving average is $384.94. The firm has a market capitalization of $67.05 billion, a P/E ratio of 69.61, a P/E/G ratio of 2.66 and a beta of 1.10.

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, beating analysts’ consensus estimates of $3.24 by $0.09. The business had revenue of $7.63 billion during 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 quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s payout ratio is 5.93%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PWR shares. Jefferies Financial Group boosted their target price on shares of Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Evercore ISI boosted their price objective on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Argus set a $540.00 target price on shares of Quanta Services in a research note on Friday, October 31st. Robert W. Baird set a $490.00 price target on shares of Quanta Services in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Twelve analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $438.64.

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.