Waratah Capital Advisors Ltd. Has $5.91 Million Stock Holdings in Quanta Services, Inc. $PWR

Waratah Capital Advisors Ltd. lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 80.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 15,639 shares of the construction company’s stock after selling 63,399 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in Quanta Services were worth $5,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PWR. Cullen Frost Bankers Inc. bought a new position in Quanta Services in the first quarter worth approximately $25,000. Copia Wealth Management lifted its holdings in shares of Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after purchasing an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. grew its position in Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Solstein Capital LLC raised its holdings in Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Quanta Services in the first quarter valued at $31,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 0.3%

Shares of NYSE:PWR opened at $428.34 on Friday. The company has a market capitalization of $63.87 billion, a PE ratio of 66.31, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $469.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The business has a fifty day moving average price of $421.12 and a two-hundred day moving average price of $386.84.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the firm earned $2.72 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. 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 year.

Quanta Services Dividend Announcement

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. 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 payout ratio is 5.93%.

Wall Street Analyst Weigh In

PWR has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Citigroup raised their target price on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a report on Friday, October 31st. Mizuho set a $415.00 price target on Quanta Services in a report on Tuesday, October 28th. DA Davidson raised their price objective on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Finally, Wall Street Zen lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Twelve analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $438.64.

Insider Transactions at Quanta Services

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 transaction, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This represents a 24.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the sale, the executive vice president directly owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. This trade represents a 28.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 in the last ninety days. Company insiders own 1.10% of the company’s stock.

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.