Profund Advisors LLC Has $791,000 Holdings in Quanta Services, Inc. $PWR

Profund Advisors LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 31.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,092 shares of the construction company’s stock after purchasing an additional 503 shares during the quarter. Profund Advisors LLC’s holdings in Quanta Services were worth $791,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Old Port Advisors raised its position in shares of Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after acquiring an additional 26 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in 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 valued at $851,000 after purchasing an additional 26 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in Quanta Services by 3.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock worth $242,000 after purchasing an additional 32 shares during the period. Frank Rimerman Advisors LLC boosted its position 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 worth $792,000 after purchasing an additional 34 shares in the last quarter. Finally, Eastern Bank grew its holdings in shares of Quanta Services by 23.5% in the 2nd quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after buying an additional 35 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PWR has been the topic of several research analyst reports. Weiss Ratings downgraded Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Evercore ISI raised their price target on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Truist Financial boosted their price objective on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen cut Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Roth Capital set a $500.00 price target on shares of Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, Quanta Services presently has a consensus rating of “Hold” and a consensus target price of $438.64.

Quanta Services Trading Down 0.3%

Quanta Services stock opened at $449.16 on Wednesday. The company has a market cap of $66.98 billion, a price-to-earnings ratio of 69.53, a P/E/G ratio of 2.66 and a beta of 1.10. The firm has a 50-day moving average of $417.47 and a 200-day moving average of $384.48. 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, Inc. has a one year low of $227.08 and a one year high of $469.43.

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

Quanta Services Dividend Announcement

The company also recently announced 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 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 Quanta Services 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 owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This trade represents a 69.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 34,575 shares in the company, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,002 shares of company stock valued at $14,295,857 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

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.