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    Pathstone Family Office Increases Holdings in Quanta Services

    ByByron Bekker

    Feb 12, 2024
    Pathstone Family Office Increases Holdings in Quanta Services

    Pathstone Family Office LLC has boosted its investment in Quanta Services, Inc. by 19.2% during the third quarter, according to recent disclosures. The family office now holds 12,352 shares of the construction company’s stock, representing a value of $2,311,000. This increase follows the purchase of an additional 1,991 shares during the quarter.

    While Pathstone Family Office was not the only hedge fund to modify its holdings in Quanta Services, a number of other funds also made adjustments to their positions. These include J.W. Cole Advisors Inc., which increased its stake by 1.2% during the second quarter, Western Wealth Management LLC, which raised its holdings by 3.8% in the same quarter, and Gray Wealth Management Inc., which grew its holdings by 6.2% in the third quarter. Grove Bank & Trust made the most significant increase, boosting its holdings by 75.6% in the third quarter.

    Analysts on Wall Street have also weighed in on Quanta Services. Citigroup raised its price target for the stock, while KeyCorp initiated coverage with a “sector weight” rating. Stifel Nicolaus also increased its price objective, and The Goldman Sachs Group upgraded Quanta Services from a “neutral” rating to a “buy” rating. In total, nine analysts have issued ratings for the stock, with three holding ratings and six recommending it as a buy.

    Quanta Services has recently paid a quarterly dividend of $0.09 per share, up from its previous dividend of $0.08. The company provides infrastructure solutions for various industries, including electric power transmission, renewable energy, and communications. Its services range from design and construction to maintenance and repair.

    For more information about the latest hedge fund holdings and insider trades for Quanta Services, visit HoldingsChannel.com.

    FAQs about Quanta Services Investment

    1. What is the recent investment made by Pathstone Family Office LLC in Quanta Services, Inc.?
    – Pathstone Family Office LLC boosted its investment in Quanta Services, Inc. by 19.2% during the third quarter. They now hold 12,352 shares of the company’s stock, representing a value of $2,311,000.

    2. Did other hedge funds also modify their holdings in Quanta Services?
    – Yes, several other hedge funds made adjustments to their positions in Quanta Services. For example, J.W. Cole Advisors Inc. increased its stake by 1.2% during the second quarter, Western Wealth Management LLC raised its holdings by 3.8% in the same quarter, and Gray Wealth Management Inc. grew its holdings by 6.2% in the third quarter. Grove Bank & Trust made the most significant increase, boosting its holdings by 75.6% in the third quarter.

    3. What do analysts on Wall Street say about Quanta Services?
    – Citigroup raised its price target for Quanta Services, while KeyCorp initiated coverage with a “sector weight” rating. Stifel Nicolaus also increased its price objective, and The Goldman Sachs Group upgraded Quanta Services from a “neutral” rating to a “buy” rating. In total, nine analysts have issued ratings for the stock, with three holding ratings and six recommending it as a buy.

    4. What is the business of Quanta Services?
    – Quanta Services provides infrastructure solutions for various industries, including electric power transmission, renewable energy, and communications. Its services range from design and construction to maintenance and repair.

    Definitions:

    Hedge fund: An investment fund that pools capital from accredited individuals or institutional investors to invest in a variety of assets, often with the goal of generating high returns.
    Quanta Services, Inc.: A company that provides infrastructure solutions, including design, construction, maintenance, and repair services, for industries such as electric power transmission, renewable energy, and communications.
    Stock: A type of security that represents ownership in a company and represents a proportionate share of the company’s assets and earnings.
    Dividend: A payment made by a corporation to its shareholders, usually in the form of cash or additional shares, based on the company’s profits.

    Related Links:
    HoldingsChannel.com (For more information about the latest hedge fund holdings and insider trades for Quanta Services)