Thu Sep 26 14:12:55 UTC 2024: ## Pacer Advisors Boosts Quanta Services Stake, Analysts Remain Bullish

**New York, NY (MarketBeat News)** – Pacer Advisors Inc. increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.9% in the second quarter, according to a recent SEC filing. The investment firm now owns 11,378 shares of the construction company, valued at $2,891,000.

This move comes amidst a wave of positive sentiment towards Quanta Services from both institutional investors and analysts. Several other hedge funds, including EntryPoint Capital LLC, Private Ocean LLC, Salomon & Ludwin LLC, Cambridge Trust Co., and Valley Wealth Managers Inc., also initiated new positions in the company during the first and second quarters.

Institutional investors currently hold 90.49% of Quanta Services’ stock.

Analysts are also largely optimistic about the company’s prospects. B. Riley, TD Cowen, Robert W. Baird, Northland Securities, and Wolfe Research have all raised their price targets for Quanta Services, with the majority giving the stock a “buy” rating. MarketBeat’s consensus rating for PWR is “Moderate Buy” with a price target of $286.69.

Quanta Services recently reported strong second-quarter earnings, exceeding analysts’ expectations with earnings per share of $1.90 and revenue of $5.59 billion. The company also announced a quarterly dividend of $0.09 per share.

However, insider selling activity may raise some concerns. Gerald A. Ducey, Jr. and COO James Redgie Probst both sold significant amounts of stock in August.

Overall, despite some insider selling, Quanta Services remains a strong performer with a robust financial position and a positive outlook from both investors and analysts. The company’s focus on infrastructure solutions for the growing energy and communications sectors is expected to drive continued growth.

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