Modera Wealth Management LLC Acquires Shares of 563 Quanta Services, Inc. $PWR

Modera Wealth Management LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR) in the second quarter, HoldingsChannel reports. The institutional investor acquired 563 shares of the construction company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Old Port Advisors lifted its holdings in Quanta Services by 0.7% in the second quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after acquiring an additional 26 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Quanta Services by 1.2% during the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock worth $851,000 after acquiring an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in shares of 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 purchasing an additional 32 shares during the period. Frank Rimerman Advisors LLC raised its holdings in shares of 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 during the last quarter. Finally, Eastern Bank boosted its position in Quanta Services by 23.5% during the 2nd quarter. Eastern Bank now owns 184 shares of the construction company’s stock worth $70,000 after acquiring an additional 35 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were 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 owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total value of $2,859,907.05. Following the completion of the transaction, the director directly owned 2,730 shares in the company, valued at approximately $1,229,728.50. This represents a 69.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on PWR. DA Davidson raised their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Truist Financial lifted their price target on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. UBS Group increased their target price on Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a report on Friday, July 25th. TD Cowen boosted their price objective on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Mizuho set a $415.00 target price on Quanta Services in a research report on Tuesday, October 28th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $438.64.

Quanta Services Trading Up 0.5%

Shares of PWR opened at $445.32 on Monday. The stock’s 50-day moving average price is $414.54 and its 200 day moving average price is $382.17. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $66.40 billion, a price-to-earnings ratio of 68.93, a P/E/G ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $469.43.

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 business had revenue of $7.63 billion for the quarter, compared to analyst estimates 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 was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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