WASHINGTON TRUST Co Decreases Stock Position in Quanta Services, Inc. $PWR

WASHINGTON TRUST Co cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 55,977 shares of the construction company’s stock after selling 526 shares during the period. WASHINGTON TRUST Co’s holdings in Quanta Services were worth $21,164,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC bought a new position in Quanta Services during the fourth quarter worth about $298,000. Mutual of America Capital Management LLC boosted its position in Quanta Services by 1.9% during the first quarter. Mutual of America Capital Management LLC now owns 21,136 shares of the construction company’s stock valued at $5,372,000 after acquiring an additional 389 shares during the last quarter. Signaturefd LLC raised its stake in Quanta Services by 1.4% during the 1st quarter. Signaturefd LLC now owns 3,091 shares of the construction company’s stock worth $786,000 after buying an additional 44 shares during the period. Sigma Planning Corp boosted its position in shares of Quanta Services by 52.6% during the first quarter. Sigma Planning Corp now owns 1,346 shares of the construction company’s stock valued at $342,000 after buying an additional 464 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its position in shares of Quanta Services by 5.6% during the 1st quarter. Apollon Wealth Management LLC now owns 6,059 shares of the construction company’s stock valued at $1,540,000 after purchasing an additional 319 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the sale, the insider directly owned 19,960 shares of the company’s stock, valued at $8,903,756.80. This trade represents a 27.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald Wayne sold 14,000 shares of the business’s stock in a transaction on 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 transaction, the executive vice president owned 34,575 shares of the company’s stock, valued at $15,344,730.75. This represents a 28.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,002 shares of company stock worth $14,295,857 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Performance

Shares of PWR traded down $8.07 during mid-day trading on Thursday, hitting $441.35. The company’s stock had a trading volume of 89,874 shares, compared to its average volume of 1,289,122. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $469.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The firm has a market capitalization of $65.81 billion, a PE ratio of 68.32, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The stock’s 50-day moving average is $418.98 and its two-hundred day moving average is $384.94.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the company posted $2.72 earnings per share. Quanta Services’s revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on PWR. Jefferies Financial Group boosted their price objective on shares of Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. increased their target price on Quanta Services from $436.00 to $457.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Citigroup lifted their target price on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Robert W. Baird set a $490.00 target price on shares of Quanta Services in a research note on Friday, October 31st. Finally, Truist Financial increased their target price on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Quanta Services presently has an average rating of “Hold” and a consensus target price of $438.64.

Quanta Services Company 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.