Forsta AP Fonden Acquires 400 Shares of Quanta Services, Inc. $PWR

Forsta AP Fonden raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. bought a new position in Quanta Services during the first quarter valued at $25,000. Copia Wealth Management increased its holdings in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. raised its stake in Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Solstein Capital LLC lifted its holdings in Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Quanta Services in the first quarter worth about $31,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction dated 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 transaction, the director directly owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the sale, the executive vice president directly owned 34,575 shares in the company, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 32,002 shares of company stock worth $14,295,857 over the last three months. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $449.67 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market cap of $67.05 billion, a price-to-earnings ratio of 69.61, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The company has a 50-day moving average price of $418.98 and a 200-day moving average price of $384.94. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $469.43.

Quanta Services (NYSE:PWR) last released its quarterly 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 business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the previous year, the business posted $2.72 earnings per share. The firm’s revenue for the quarter 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. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were given 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 is currently 5.93%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PWR. Stifel Nicolaus set a $495.00 price objective on shares of Quanta Services in a report on Monday, November 3rd. Roth Capital set a $500.00 price target on Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. BMO Capital Markets lowered Quanta Services from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. JPMorgan Chase & Co. raised their target price on Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Finally, Mizuho set a $415.00 price target on Quanta Services in a research report on Tuesday, October 28th. Twelve research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $438.64.

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.