Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in Quanta Services, Inc. $PWR

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 17.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 55,176 shares of the construction company’s stock after buying an additional 8,360 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Quanta Services were worth $22,866,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Copia Wealth Management increased its position in shares of Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. increased its holdings in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Quanta Services in the 2nd quarter valued at approximately $26,000. Solstein Capital LLC boosted its stake in shares of Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the last quarter. Finally, Ameriflex Group Inc. grew its position in shares of Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after buying an additional 40 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on PWR. Jefferies Financial Group upped their price target on shares of Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Quanta Services in a research note on Monday, December 29th. Citigroup lifted their price target on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Stifel Nicolaus set a $495.00 price objective on Quanta Services in a research note on Monday, November 3rd. Finally, Sanford C. Bernstein reduced their target price on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a report on Friday, December 19th. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $450.10.

Quanta Services Price Performance

Shares of PWR opened at $422.43 on Friday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $473.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a fifty day moving average price of $441.14 and a 200 day moving average price of $413.58. The company has a market cap of $62.99 billion, a P/E ratio of 62.58, a PEG ratio of 2.01 and a beta of 1.16.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The company had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the business posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the transaction, the insider directly owned 19,960 shares of the company’s stock, valued at $8,903,756.80. This represents a 27.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total value of $1,808,760.00. Following the completion of the sale, the director owned 12,493 shares in the company, valued at approximately $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,002 shares of company stock valued at $14,295,857. Company insiders own 1.10% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.