Donoghue Forlines LLC Takes $2.87 Million Position in Quanta Services, Inc. $PWR

Donoghue Forlines LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, Holdings Channel.com reports. The firm bought 7,596 shares of the construction company’s stock, valued at approximately $2,872,000. Quanta Services accounts for approximately 0.8% of Donoghue Forlines LLC’s portfolio, making the stock its 25th largest holding.

A number of other large investors also recently added to or reduced their stakes in the business. Copia Wealth Management raised its position in shares of Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares in the last quarter. Solstein Capital LLC increased its holdings in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. Ameriflex Group Inc. boosted its holdings in shares of Quanta Services by 93.0% during the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after purchasing an additional 40 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services during the second quarter valued at about $37,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction dated 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. The trade was a 69.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 32,002 shares of company stock valued at $14,295,857. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 5.0%

NYSE:PWR opened at $426.88 on Friday. The stock has a fifty day simple moving average of $420.01 and a 200-day simple moving average of $385.23. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market cap of $63.65 billion, a price-to-earnings ratio of 66.08, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $469.43.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The company had revenue of $7.63 billion during 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 for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PWR shares. Stifel Nicolaus set a $495.00 target price on Quanta Services in a research report on Monday, November 3rd. UBS Group upped their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Citigroup raised their target price on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a report on Friday, October 31st. Truist Financial boosted their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price on the stock. in a research report on Monday, July 28th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.