Quanta Services, Inc. $PWR Shares Bought by Candriam S.C.A.

Candriam S.C.A. increased its position in Quanta Services, Inc. (NYSE:PWR) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,358 shares of the construction company’s stock after buying an additional 3,333 shares during the period. Candriam S.C.A.’s holdings in Quanta Services were worth $21,309,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Copia Wealth Management raised its holdings in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after acquiring an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. grew its position in shares of Quanta Services by 159.3% in the second 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 increased its stake in Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Ameriflex Group Inc. lifted its position in Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after buying an additional 40 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 5.0%

NYSE:PWR opened at $426.88 on Friday. The business’s 50-day moving average is $420.01 and its two-hundred day moving average is $385.23. The firm has a market capitalization of $63.65 billion, a PE ratio of 66.08, a price-to-earnings-growth 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. 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 earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Insider Activity

In other news, 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 approximately $1,229,728.50. This represents a 69.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the sale, 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. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial increased 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. Jefferies Financial Group increased their price target on shares of Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Wall Street Zen cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Argus set a $540.00 target price on Quanta Services in a research report on Friday, October 31st. Finally, Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Twelve analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $438.64.

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.