Quanta Services, Inc. $PWR Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 788,072 shares of the construction company’s stock after selling 19,468 shares during the period. Legal & General Group Plc owned 0.53% of Quanta Services worth $297,954,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PWR. Copia Wealth Management boosted its stake in Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. raised its stake in Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares during the period. Solstein Capital LLC boosted its holdings in Quanta Services by 185.7% in the 2nd 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. WPG Advisers LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth approximately $31,000. Finally, Ameriflex Group Inc. raised its position in shares of Quanta Services by 93.0% during the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after buying an additional 40 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the completion of the transaction, the insider directly owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. The trade was a 27.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the sale, the executive vice president owned 34,575 shares in the company, valued at $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. Over the last 90 days, insiders sold 32,002 shares of company stock valued at $14,295,857. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Up 0.1%

Shares of PWR opened at $430.17 on Friday. The company’s 50-day simple moving average is $426.33 and its 200-day simple moving average is $390.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $469.43. The stock has a market capitalization of $64.15 billion, a PE ratio of 66.59, a P/E/G ratio of 2.66 and a beta of 1.10.

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

Quanta Services Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PWR shares. Evercore ISI raised their target price on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Argus set a $540.00 price objective on shares of Quanta Services in a report on Friday, October 31st. Robert W. Baird set a $490.00 price target on shares of Quanta Services in a research report on Friday, October 31st. Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Citigroup increased their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Twelve investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Hold” and a consensus price target 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.