PNC Financial Services Group Inc. Acquires 5,670 Shares of Quanta Services, Inc. $PWR

PNC Financial Services Group Inc. grew its position in Quanta Services, Inc. (NYSE:PWR) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 606,414 shares of the construction company’s stock after purchasing an additional 5,670 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Quanta Services were worth $229,273,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Forsta AP Fonden grew its holdings in Quanta Services by 1.3% during the 2nd quarter. Forsta AP Fonden now owns 31,000 shares of the construction company’s stock worth $11,720,000 after acquiring an additional 400 shares during the last quarter. KBC Group NV lifted its holdings in Quanta Services by 0.9% in the second quarter. KBC Group NV now owns 14,764 shares of the construction company’s stock valued at $5,582,000 after buying an additional 137 shares during the period. SBI Securities Co. Ltd. raised its position in shares of Quanta Services by 8.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 589 shares of the construction company’s stock worth $223,000 after acquiring an additional 45 shares in the last quarter. National Pension Service grew its stake in Quanta Services by 112.5% during the second quarter. National Pension Service now owns 415,229 shares of the construction company’s stock worth $156,990,000 after purchasing an additional 219,847 shares during the period. Finally, Boston Partners acquired a new position in shares of Quanta Services during the 2nd quarter valued at $936,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 0.3%

PWR stock opened at $449.16 on Wednesday. The company has a market capitalization of $66.98 billion, a PE ratio of 69.53, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The company’s 50 day moving average price is $417.47 and its two-hundred day moving average price is $384.48. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $469.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR) last posted 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. 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 during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the business posted $2.72 earnings per share. The company’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. As a group, analysts predict 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 given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 5.93%.

Insiders Place Their Bets

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was 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 owned 19,960 shares in the company, valued at $8,903,756.80. This represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the business’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 transaction, the director directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 32,002 shares of company stock valued at $14,295,857 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research reports. DA Davidson raised their price objective on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Argus set a $540.00 price objective on shares of Quanta Services in a report on Friday, October 31st. TD Cowen raised their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. BMO Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, Weiss Ratings downgraded Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has an average rating of “Hold” and a consensus 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.