Princeton Capital Management LLC Has $10.64 Million Stake in Quanta Services, Inc. $PWR

Princeton Capital Management LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 18.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,128 shares of the construction company’s stock after acquiring an additional 4,427 shares during the quarter. Quanta Services makes up 3.2% of Princeton Capital Management LLC’s portfolio, making the stock its 8th biggest position. Princeton Capital Management LLC’s holdings in Quanta Services were worth $10,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of PWR. Kingstone Capital Partners Texas LLC bought a new stake in Quanta Services in the second quarter valued at about $650,960,000. Nuveen LLC bought a new stake in shares of Quanta Services in the 1st quarter valued at approximately $404,288,000. Amundi raised its position in shares of Quanta Services by 188.3% during the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after acquiring an additional 788,079 shares in the last quarter. Jennison Associates LLC lifted its stake in Quanta Services by 433.3% during the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock worth $157,839,000 after purchasing an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after purchasing an additional 407,878 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 2.4%

Shares of Quanta Services stock opened at $442.74 on Friday. The business has a fifty day simple moving average of $413.20 and a 200-day simple moving average of $379.26. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $469.43. The firm has a market cap of $66.02 billion, a price-to-earnings ratio of 68.54, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the previous year, the business earned $2.72 earnings per share. Quanta Services’s revenue for the quarter 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. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s payout ratio is presently 5.93%.

Insider Activity

In other news, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the sale, the director directly owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on PWR. Robert W. Baird set a $490.00 target price on Quanta Services in a research note on Friday, October 31st. Evercore ISI lifted their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Stifel Nicolaus set a $495.00 target price on shares of Quanta Services in a research report on Monday. Truist Financial lifted their price target on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $438.64.

Quanta Services Company 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.