Quanta Services, Inc. (NYSE:PWR) recently saw a 14.4% increase in its stake by Pinnacle Financial Partners Inc during the 2nd quarter, according to the company’s most recent Form 13F filing with the Securities and Exchange Commission. Pinnacle Financial Partners now holds $8.24 million worth of shares in the construction company. This increase in stake reflects the confidence of institutional investors in the potential growth of Quanta Services.
Other investors and hedge funds have also shown their interest in Quanta Services. J.W. Cole Advisors Inc. increased its holdings by 1.2% during the 2nd quarter, while Greenwich Wealth Management LLC and TCI Wealth Advisors Inc. raised their holdings by 0.6% and 33.1%, respectively, during the 1st quarter. Moody Lynn & Lieberson LLC and Highview Capital Management LLC DE also increased their positions in the company.
Insider trading activity was also observed with EVP Donald Wayne selling 5,000 shares of the company’s stock in early September. Company insiders now own 1.20% of the total shares. This reflects the confidence and belief the company’s top executives have in Quanta Services’ future prospects.
Despite these recent activities, Quanta Services’ stock performance has shown some volatility. Shares of PWR opened at $175.06 on Friday, with a fifty-day moving average of $186.30 and a 200-day moving average of $186.53. The stock has a twelve-month low of $134.61 and a twelve-month high of $212.82. The company has a market cap of $25.42 billion, a PE ratio of 44.66, and a beta of 1.11.
In terms of financial performance, Quanta Services reported earnings per share (EPS) of $1.47 for the most recent quarter, slightly lower than the consensus estimate of $1.53. The company had a net margin of 3.16% and a return on equity of 15.48%. Quanta Services also reported revenue of $5.05 billion, surpassing analyst estimates.
Quanta Services has also announced a quarterly dividend, with an annualized dividend of $0.32 and a yield of 0.18%. The dividend payout ratio (DPR) currently stands at 8.16%.
Wall Street analysts have weighed in on Quanta Services, with varying ratings and price targets. DA Davidson and UBS Group both lifted their price targets on the stock, while Credit Suisse Group and Northland Securities raised their price objectives. On average, analysts predict that Quanta Services, Inc. will post EPS of 6.46 for the current fiscal year.
Quanta Services, Inc. provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries globally. The company specializes in the design, procurement, construction, upgrade, repair, and maintenance of various infrastructure projects.
Frequently Asked Questions (FAQs)
1. What is Quanta Services, Inc.?
Quanta Services, Inc. is a company that provides infrastructure solutions for multiple industries, including electric and gas utility, renewable energy, communications, and pipeline and energy sectors.
2. What is the recent stake increase in Quanta Services by Pinnacle Financial Partners Inc?
Pinnacle Financial Partners Inc recently increased its stake in Quanta Services by 14.4% during the 2nd quarter.
3. Is there any insider trading activity in Quanta Services?
Yes, EVP Donald Wayne sold 5,000 shares of Quanta Services’ stock in September, representing insider trading activity.
4. What is the stock performance of Quanta Services?
Quanta Services’ stock has shown volatility, with a current price of $175.06 and a fifty-day moving average of $186.30.
5. What are the financial highlights of Quanta Services?
Quanta Services reported earnings per share of $1.47 for the most recent quarter, slightly missing the consensus estimate of $1.53. The company had a net margin of 3.16% and a return on equity of 15.48%.