Quanta Services, Inc. $PWR Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers increased its position in Quanta Services, Inc. (NYSE:PWR) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,501 shares of the construction company’s stock after acquiring an additional 3,625 shares during the period. Cetera Investment Advisers’ holdings in Quanta Services were worth $19,472,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Old Port Advisors grew its holdings in 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 purchasing an additional 26 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of Quanta Services by 1.2% in the 2nd 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 in the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in Quanta Services by 3.5% in the 1st 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 increased its holdings 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 raised its position in Quanta Services by 23.5% during the second quarter. Eastern Bank now owns 184 shares of the construction company’s stock worth $70,000 after acquiring an additional 35 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of Quanta Services stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the transaction, the insider owned 19,960 shares in the company, valued at $8,903,756.80. This trade represents a 27.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the sale, the executive vice president owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 32,002 shares of company stock valued at $14,295,857. Insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 2.9%

Shares of PWR opened at $439.09 on Wednesday. The stock has a fifty day moving average of $423.47 and a two-hundred day moving average of $389.06. 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 company has a market capitalization of $65.48 billion, a PE ratio of 67.97, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $469.43.

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, topping the consensus estimate of $3.24 by $0.09. The business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders 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 is currently 5.93%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial increased their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Sanford C. Bernstein cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price on the stock. in a report on Monday, July 28th. Citigroup boosted their price target on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Evercore ISI increased their price objective on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, TD Cowen boosted their target price on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Quanta Services presently has a consensus 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.