Stevens Capital Management LP Takes Position in Quanta Services, Inc. $PWR

Stevens Capital Management LP purchased a new position in Quanta Services, Inc. (NYSE:PWR) during the second quarter, HoldingsChannel reports. The firm purchased 2,441 shares of the construction company’s stock, valued at approximately $923,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in Quanta Services in the fourth quarter worth approximately $298,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Quanta Services by 84.3% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 376 shares of the construction company’s stock worth $96,000 after purchasing an additional 172 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Quanta Services by 40.4% during the first quarter. Wedbush Securities Inc. now owns 3,017 shares of the construction company’s stock valued at $767,000 after purchasing an additional 868 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in Quanta Services by 408.0% during the first quarter. Pinnacle Associates Ltd. now owns 18,950 shares of the construction company’s stock valued at $4,817,000 after buying an additional 15,220 shares during the period. Finally, Advisor OS LLC raised its stake in Quanta Services by 6.9% in the first quarter. Advisor OS LLC now owns 2,701 shares of the construction company’s stock worth $687,000 after buying an additional 175 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Quanta Services in a research report on Wednesday. TD Cowen upped their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Truist Financial lifted their target price on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Citigroup boosted their target price on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $438.64.

Insider Buying and Selling at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the 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 sale, the insider owned 19,960 shares in the company, valued at $8,903,756.80. This represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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. Over the last quarter, insiders sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is owned by corporate insiders.

Quanta Services Price Performance

NYSE PWR opened at $430.17 on Friday. The company has a market cap of $64.15 billion, a price-to-earnings ratio of 66.59, a PEG ratio of 2.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The stock’s fifty day moving average price is $426.33 and its 200 day moving average price is $390.48. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $469.43.

Quanta Services (NYSE:PWR) last posted 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. The business had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend payout ratio is 6.52%.

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.