Bornite Capital Management LP Grows Stock Position in Quanta Services, Inc. $PWR

Bornite Capital Management LP grew its position in Quanta Services, Inc. (NYSE:PWR) by 49.8% in the second quarter, HoldingsChannel.com reports. The firm owned 102,900 shares of the construction company’s stock after acquiring an additional 34,200 shares during the period. Quanta Services accounts for approximately 3.9% of Bornite Capital Management LP’s investment portfolio, making the stock its 5th biggest holding. Bornite Capital Management LP’s holdings in Quanta Services were worth $38,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Old Port Advisors boosted its holdings in Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after buying an additional 26 shares during the period. Ashton Thomas Private Wealth LLC lifted its position in shares of Quanta Services by 1.2% in the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after acquiring an additional 26 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Quanta Services by 3.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock worth $242,000 after acquiring an additional 32 shares during the period. Frank Rimerman Advisors LLC grew its position in shares of Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock worth $792,000 after purchasing an additional 34 shares in the last quarter. Finally, Eastern Bank raised its stake in Quanta Services by 23.5% during the 2nd quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after purchasing an additional 35 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research analyst reports. 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 report on Friday, August 1st. Argus set a $540.00 target price on shares of Quanta Services in a research report on Friday, October 31st. Citigroup lifted their price target on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a report on Friday, October 31st. Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Truist Financial lifted their target price on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $438.64.

Insiders Place Their Bets

In other news, Director Bernard Fried sold 4,000 shares of the stock in a transaction 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 sale, the director owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 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 position. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 0.5%

PWR opened at $445.32 on Friday. The stock has a 50-day moving average of $414.54 and a 200 day moving average of $381.42. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $469.43. The firm has a market cap of $66.40 billion, a P/E ratio of 68.93, 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 (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.09. The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the company earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders 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 of this dividend was Wednesday, October 1st. Quanta Services’s payout ratio is presently 5.93%.

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.