Westover Capital Advisors LLC Grows Stock Holdings in Quanta Services, Inc. $PWR

by · The Markets Daily

Westover Capital Advisors LLC raised its holdings in Quanta Services, Inc. (NYSE:PWR – Free Report) by 4.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,455 shares of the construction company’s stock after acquiring an additional 222 shares during the period. Westover Capital Advisors LLC’s holdings in Quanta Services were worth $2,062,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the period. Geode Capital Management LLC boosted its stake in Quanta Services by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock worth $1,458,362,000 after buying an additional 152,823 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Quanta Services in the 2nd quarter worth about $650,960,000. Nuveen LLC purchased a new stake in Quanta Services in the 1st quarter valued at about $404,288,000. Finally, Northern Trust Corp increased its stake in shares of Quanta Services by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock valued at $392,839,000 after acquiring an additional 56,081 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE:PWR opened at $426.70 on Tuesday. The firm’s fifty day simple moving average is $422.15 and its 200 day simple moving average is $388.23. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $469.43. The firm has a market capitalization of $63.63 billion, a price-to-earnings ratio of 66.05, a PEG ratio of 2.66 and a beta of 1.10.

Quanta Services (NYSE:PWR – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.09. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were given a dividend of $0.10 per share. 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 payout ratio is 5.93%.

Analysts Set New Price Targets

Several research firms recently issued reports on PWR. DA Davidson raised their target price on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. TD Cowen increased their price target on shares of Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Argus set a $540.00 price objective on shares of Quanta Services in a research note on Friday, October 31st. Evercore ISI upped their price objective on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Robert W. Baird set a $490.00 target price on Quanta Services in a report on Friday, October 31st. 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 has a consensus rating of “Hold” and an average target price of $438.64.

Check Out Our Latest Research Report on PWR

Insider Buying and Selling

In other news, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the transaction, the executive vice president directly owned 34,575 shares in the company, valued at approximately $15,344,730.75. This represents a 28.82% 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, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction on 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 sale, the director directly owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,002 shares of company stock worth $14,295,857 in the last 90 days. 1.10% of the stock is owned by insiders.

Quanta Services Company Profile

(Free Report)

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.

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