Rhumbline Advisers Buys 14,997 Shares of Quanta Services, Inc. $PWR

Rhumbline Advisers grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 339,448 shares of the construction company’s stock after buying an additional 14,997 shares during the period. Rhumbline Advisers’ holdings in Quanta Services were worth $128,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. SCP Investment LP bought a new stake in shares of Quanta Services in the 1st quarter valued at $966,000. Mediolanum International Funds Ltd raised its position in shares of Quanta Services by 15.5% during the second quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock worth $12,642,000 after purchasing an additional 4,451 shares during the period. Brighton Jones LLC bought a new position in shares of Quanta Services during the 4th quarter valued at about $298,000. PNC Financial Services Group Inc. grew its position in shares of Quanta Services by 0.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 606,414 shares of the construction company’s stock valued at $229,273,000 after purchasing an additional 5,670 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Quanta Services during the 2nd quarter worth approximately $271,000. 90.49% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the completion of the sale, the director owned 2,730 shares in the company, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the transaction, the director owned 12,493 shares in the company, valued at approximately $5,649,209.67. This trade represents a 24.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 32,002 shares of company stock worth $14,295,857. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PWR shares. Truist Financial upped their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Mizuho set a $415.00 target price on Quanta Services in a report on Tuesday, October 28th. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Finally, Robert W. Baird set a $490.00 target price on Quanta Services in a research note on Friday, October 31st. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $438.64.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $430.17 on Friday. 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 stock has a 50 day moving average price of $426.33 and a 200 day moving average price of $390.99. The stock has a market capitalization of $64.15 billion, a PE ratio of 66.59, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $469.43.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The company 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were given a $0.10 dividend. 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 presently 6.52%.

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.