Oak Harvest Investment Services Acquires New Shares in Quanta Services, Inc. $PWR

Oak Harvest Investment Services bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,836 shares of the construction company’s stock, valued at approximately $1,072,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SCP Investment LP purchased a new stake in Quanta Services in the 1st quarter worth approximately $966,000. Brighton Jones LLC bought a new position in shares of Quanta Services in the fourth quarter worth $298,000. Swedbank AB boosted its stake in Quanta Services by 50.5% during the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock valued at $304,269,000 after buying an additional 401,418 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Quanta Services in the 2nd quarter worth about $271,000. Finally, PNC Financial Services Group Inc. raised its holdings 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 acquiring an additional 5,670 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PWR has been the subject of several recent analyst reports. Stifel Nicolaus set a $495.00 price objective on Quanta Services in a report on Monday, November 3rd. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Truist Financial lifted their price objective on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. BMO Capital Markets cut Quanta Services from an “outperform” rating to a “market perform” rating and increased their target price for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Finally, Robert W. Baird set a $490.00 price target on Quanta Services in a research note on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, Quanta Services has an average rating of “Hold” and an average target price of $438.64.

Insider Activity at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Donald Wayne sold 14,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,002 shares of company stock valued at $14,295,857 over the last quarter. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $426.88 on Friday. The company has a 50-day simple moving average of $420.01 and a two-hundred day simple moving average of $385.23. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $469.43. The firm has a market cap of $63.65 billion, a price-to-earnings ratio of 66.08, a PEG 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 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 company had revenue of $7.63 billion during 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%.Quanta Services’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.72 EPS. 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 year.

Quanta Services Announces Dividend

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

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.