Creative Planning Buys 9,026 Shares of Quanta Services, Inc. $PWR

Creative Planning increased its stake in Quanta Services, Inc. (NYSE:PWR) by 29.2% in the second quarter, HoldingsChannel reports. The fund owned 39,931 shares of the construction company’s stock after purchasing an additional 9,026 shares during the period. Creative Planning’s holdings in Quanta Services were worth $15,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Old Port Advisors lifted its position in Quanta Services by 0.7% in the second quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after purchasing an additional 26 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Quanta Services by 1.2% in the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock worth $851,000 after buying an additional 26 shares during the period. Pinnacle Wealth Planning Services Inc. raised its holdings in Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC boosted its position in Quanta Services by 1.1% during the 1st 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 period. Finally, Eastern Bank grew its holdings in Quanta Services by 23.5% in 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 last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Worthing Jackman sold 6,349 shares of the company’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 transaction, the director owned 2,730 shares in the company, valued at $1,229,728.50. The trade was a 69.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the sale, the insider directly owned 19,960 shares in the company, valued at $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is owned by insiders.

Quanta Services Trading Down 0.6%

Shares of NYSE PWR opened at $426.70 on Tuesday. 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 firm has a 50-day moving average of $422.15 and a 200 day moving average of $388.23. The stock has a market cap of $63.63 billion, a P/E ratio of 66.05, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10.

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, 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 business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the prior year, the company earned $2.72 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s payout ratio is presently 5.93%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PWR shares. JPMorgan Chase & Co. increased their target price on shares of Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. DA Davidson increased their price objective on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Quanta Services in a research note on Thursday. Citigroup raised their price target on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Argus set a $540.00 target price on shares of Quanta Services in a research report on Friday, October 31st. Twelve analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.