Quanta Services, Inc. $PWR Shares Bought by Twin Capital Management Inc.

Twin Capital Management Inc. lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,677 shares of the construction company’s stock after buying an additional 139 shares during the period. Twin Capital Management Inc.’s holdings in Quanta Services were worth $4,415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Old Port Advisors raised its holdings in shares of Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after purchasing an additional 26 shares during the period. Ashton Thomas Private Wealth LLC increased its position in Quanta Services by 1.2% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock worth $851,000 after purchasing an additional 26 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in Quanta Services by 3.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after buying an additional 32 shares during the period. Frank Rimerman Advisors LLC lifted its position in Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after buying an additional 34 shares in the last quarter. Finally, Eastern Bank increased its position in shares of Quanta Services by 23.5% in the second quarter. Eastern Bank now owns 184 shares of the construction company’s stock worth $70,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 3.4%

NYSE:PWR opened at $453.48 on Thursday. 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 $67.62 billion, a price-to-earnings ratio of 70.20, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $469.43. The stock has a 50-day simple moving average of $412.07 and a 200 day simple moving average of $378.81.

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

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders 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 is 5.93%.

Insider Activity

In other news, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $452.19, for a total value of $1,808,760.00. Following the completion of the transaction, the director directly owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PWR. BMO Capital Markets cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Wall Street Zen lowered Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Sanford C. Bernstein lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective on the stock. in a research note on Monday, July 28th. Truist Financial upped their target price on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, DA Davidson boosted their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.