Modera Wealth Management LLC Invests $213,000 in Quanta Services, Inc. $PWR

Modera Wealth Management LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 563 shares of the construction company’s stock, valued at approximately $213,000.

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

Quanta Services Price Performance

Shares of NYSE:PWR opened at $445.32 on Monday. The company has a 50-day moving average price of $414.54 and a 200 day moving average price of $382.17. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $469.43. The company has a market cap of $66.40 billion, a P/E ratio of 68.93, a PEG ratio of 2.66 and a beta of 1.10. 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 (NYSE:PWR) last issued its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed 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. 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%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. DA Davidson upped their target price on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Mizuho set a $415.00 price target on shares of Quanta Services in a research report on Tuesday, October 28th. Truist Financial raised their price objective on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. BMO Capital Markets downgraded Quanta Services from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, Roth Capital set a $500.00 price objective on Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $438.64.

Insider Transactions at Quanta Services

In related news, Director Worthing Jackman sold 6,349 shares of the business’s 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 directly owned 2,730 shares in the company, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was 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 $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by corporate insiders.

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.