Princeton Capital Management LLC Purchases 4,427 Shares of Quanta Services, Inc. $PWR

Princeton Capital Management LLC grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 18.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,128 shares of the construction company’s stock after purchasing an additional 4,427 shares during the period. Quanta Services makes up 3.2% of Princeton Capital Management LLC’s portfolio, making the stock its 8th biggest position. Princeton Capital Management LLC’s holdings in Quanta Services were worth $10,635,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PWR. Savant Capital LLC grew its stake in Quanta Services by 6.4% during the 2nd quarter. Savant Capital LLC now owns 6,606 shares of the construction company’s stock valued at $2,498,000 after acquiring an additional 399 shares in the last quarter. Modera Wealth Management LLC purchased a new stake in shares of Quanta Services in the second quarter worth approximately $213,000. Twin Capital Management Inc. boosted its holdings in shares of Quanta Services by 1.2% during the second quarter. Twin Capital Management Inc. now owns 11,677 shares of the construction company’s stock worth $4,415,000 after purchasing an additional 139 shares during the period. Resona Asset Management Co. Ltd. increased its stake in Quanta Services by 5.0% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 50,920 shares of the construction company’s stock valued at $19,278,000 after buying an additional 2,445 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in Quanta Services in the 2nd quarter worth approximately $5,405,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

PWR opened at $442.74 on Friday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $469.43. 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 stock has a market cap of $66.02 billion, a PE ratio of 68.54, a P/E/G ratio of 2.66 and a beta of 1.10. The stock’s 50 day simple moving average is $413.20 and its 200-day simple moving average is $379.26.

Quanta Services (NYSE:PWR) last released 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 for 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 company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $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 EPS for the current year.

Quanta Services Dividend Announcement

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

Insider Buying and Selling at Quanta Services

In other news, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PWR shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a research note on Wednesday, October 8th. Jefferies Financial Group boosted their price target on Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. DA Davidson raised their target price on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Finally, Roth Capital set a $500.00 target price on Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $438.64.

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.