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    New Perspective: Quanta Services Facing Trading Challenges but Remains Optimistic

    ByByron Bekker

    Nov 16, 2023
    New Perspective: Quanta Services Facing Trading Challenges but Remains Optimistic
    Quanta Services, Inc. (NYSE:PWR) recently experienced a 2.5% decrease in trading, with the stock trading at $173.53. This decline in stock value has led some investors to lower their stake in Quanta Services, including Inspire Investing LLC, which reduced its stake by 9.4% in the second quarter.
    Inspire Investing LLC currently holds 17,642 shares of Quanta Services, a construction company, after selling 1,837 shares during the same period. The total value of these shares is approximately $3,466,000 as of its most recent filing with the Securities & Exchange Commission.
    Other institutional investors and hedge funds have also made adjustments to their holdings of Quanta Services. EFG Asset Management North America Corp. increased its stake by 35.1% and now owns 23,701 shares of the company’s stock, valued at $4,655,000. Vanguard Personalized Indexing Management LLC raised its stake by 3.1% and now holds 18,508 shares, worth $3,636,000. Victory Capital Management Inc. increased its stake by 22.2% and now owns 357,193 shares valued at $70,171,000. Absolute Capital Management LLC also acquired a new stake in Quanta Services worth $913,000.
    Despite the recent decline in trading and adjustments made by investors, Quanta Services maintains a positive outlook. The company reported $1.47 earnings per share for the second quarter, slightly lower than the consensus estimate of $1.53. However, Quanta Services had a return on equity of 15.48% and a net margin of 3.16%. The company generated $5.05 billion in revenue for the quarter, surpassing the consensus estimate of $4.69 billion. Analysts predict that Quanta Services, Inc. will have a 6.46 EPS for the current fiscal year.


    What was the trading volume of Quanta Services?

    The trading volume of Quanta Services was 944,733 shares during mid-day trading on Friday, compared to its average volume of 868,749 shares.

    What is the market capitalization of Quanta Services?

    Quanta Services has a market capitalization of $25.20 billion.

    What are the dividend details of Quanta Services?

    Quanta Services recently declared a quarterly dividend of $0.08 per share, resulting in an annualized dividend yield of 0.18%.

    What is the consensus rating for Quanta Services?

    Quanta Services currently has an average rating of “Moderate Buy” from analysts, with a consensus target price of $205.27.

    Has there been any insider activity?

    Yes, EVP Donald Wayne sold 5,000 shares of Quanta Services stock in September, with an average price of $210.92 per share.

    Quanta Services, Inc. is a global provider of infrastructure solutions for various industries, including electric and gas utility, renewable energy, communications, pipeline, and energy. The company specializes in the design, construction, repair, and maintenance of electric power transmission and distribution infrastructure, smart grid technologies, and commercial and industrial wirings.
    For the latest 13F filings and insider trades for Quanta Services, Inc., visit HoldingsChannel.com.
    To stay updated with the latest news and ratings for Quanta Services, sign up for the MarketBeat.com daily newsletter.

    Sources: HoldingsChannel, MarketBeat