Quanta Services, Inc. $PWR Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.9% in the 2nd quarter, Holdings Channel reports. The firm owned 55,977 shares of the construction company’s stock after selling 526 shares during the quarter. WASHINGTON TRUST Co’s holdings in Quanta Services were worth $21,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC acquired a new position in Quanta Services during the fourth quarter valued at approximately $298,000. Mutual of America Capital Management LLC boosted its stake in Quanta Services by 1.9% in the first quarter. Mutual of America Capital Management LLC now owns 21,136 shares of the construction company’s stock valued at $5,372,000 after acquiring an additional 389 shares during the last quarter. Signaturefd LLC increased its position in shares of Quanta Services by 1.4% in the 1st quarter. Signaturefd LLC now owns 3,091 shares of the construction company’s stock valued at $786,000 after buying an additional 44 shares in the last quarter. Sigma Planning Corp raised its stake in shares of Quanta Services by 52.6% in the 1st quarter. Sigma Planning Corp now owns 1,346 shares of the construction company’s stock valued at $342,000 after purchasing an additional 464 shares during the period. Finally, Apollon Wealth Management LLC raised its holdings in Quanta Services by 5.6% during the first quarter. Apollon Wealth Management LLC now owns 6,059 shares of the construction company’s stock worth $1,540,000 after acquiring an additional 319 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Worthing Jackman sold 6,349 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were 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 $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. 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

Quanta Services stock traded down $8.07 during trading hours on Thursday, hitting $441.35. 89,874 shares of the stock traded hands, compared to its average volume of 1,289,122. The stock has a market capitalization of $65.81 billion, a price-to-earnings ratio of 68.32, a P/E/G 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 firm’s 50 day moving average price is $418.98 and its 200-day moving average price is $384.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

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

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend payout ratio is 5.93%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PWR. UBS Group raised 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. BMO Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. TD Cowen raised their target price on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Sanford C. Bernstein downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective for the company. in a research report on Monday, July 28th. Finally, DA Davidson upped their price target on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Twelve analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.