SG Capital Management LLC Makes New $3.20 Million Investment in Quanta Services, Inc. $PWR

SG Capital Management LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the second quarter, Holdings Channel reports. The institutional investor bought 8,466 shares of the construction company’s stock, valued at approximately $3,201,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after acquiring an additional 407,878 shares during the period. Geode Capital Management LLC raised its stake in shares of Quanta Services by 4.1% during the second quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock worth $1,458,362,000 after purchasing an additional 152,823 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Quanta Services during the second quarter worth $650,960,000. Nuveen LLC purchased a new position in Quanta Services in the 1st quarter valued at $404,288,000. Finally, Northern Trust Corp increased its stake in Quanta Services by 3.8% in the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock valued at $392,839,000 after buying an additional 56,081 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the topic of several analyst reports. Stifel Nicolaus set a $495.00 target price on shares of Quanta Services in a report on Monday, November 3rd. Jefferies Financial Group lifted their price objective on Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Mizuho set a $415.00 target price on Quanta Services in a research report on Tuesday, October 28th. Roth Capital set a $500.00 price target on Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Truist Financial upped their price objective on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, Quanta Services has an average rating of “Hold” and a consensus target price of $438.64.

Insider Buying and Selling

In related news, Director Worthing Jackman sold 6,349 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s 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 completion of the transaction, the insider directly owned 19,960 shares of the company’s stock, valued at $8,903,756.80. The trade was a 27.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Stock Performance

Shares of PWR stock opened at $428.34 on Friday. The stock has a fifty day moving average price of $421.12 and a 200 day moving average price of $386.18. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The stock has a market cap of $63.87 billion, a PE ratio of 66.31, 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.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results 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 business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business’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 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Quanta Services Company 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.