Sun Sep 15 11:22:58 UTC 2024: ## Headlands Technologies Reduces Stake in Quanta Services, While Other Investors Show Interest

**New York, NY (MarketBeat News) -** Headlands Technologies LLC significantly reduced its holdings in Quanta Services, Inc. (NYSE: PWR) during the second quarter, selling 85.7% of its shares. The fund now owns just 607 shares, valued at $154,000, according to SEC filings.

While Headlands trimmed its position, other institutional investors are showing interest in Quanta Services. EntryPoint Capital LLC, Private Ocean LLC, Salomon & Ludwin LLC, Cambridge Trust Co., and Newbridge Financial Services Group Inc. all purchased new positions in the company during the first quarter.

**Analysts Remain Bullish on Quanta Services**

Multiple analysts have recently issued positive reports on Quanta Services. B. Riley, Citigroup, Truist Financial, Argus, and Northland Securities have all upgraded their price targets and maintained “buy” or “outperform” ratings on the stock.

Overall, Quanta Services has an average rating of “Moderate Buy” with a consensus price target of $284.50, according to MarketBeat.com.

**Insider Trading**

Recent insider trading activity saw both Karl W. Studer and CEO Earl C. Jr. Austin sell shares of the company. Studer sold 23,357 shares for $6,318,302.07, while Austin sold 130,000 shares for $34,087,300.00.

**Strong Earnings Report**

Quanta Services exceeded analysts’ expectations for its second quarter earnings, reporting $1.90 EPS on revenue of $5.59 billion. This represented a 10.8% increase in revenue year-over-year.

**Dividend Announcement**

The company also declared a quarterly dividend of $0.09 per share, payable on October 11th to shareholders of record on October 1st.

**About Quanta Services**

Quanta Services provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries globally.

**Disclaimer:** This news article is based on publicly available information and does not constitute financial advice. Investors should conduct their own research and consult with a qualified professional before making any investment decisions.

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