Rakuten Investment Management Inc. Makes New $10.76 Million Investment in Quanta Services, Inc. $PWR

Rakuten Investment Management Inc. purchased a new position in Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 25,957 shares of the construction company’s stock, valued at approximately $10,757,000.

A number of other large investors have also made changes to their positions in PWR. Freedom Day Solutions LLC purchased a new stake in shares of Quanta Services during the 2nd quarter valued at about $2,465,000. Mediolanum International Funds Ltd grew its position in Quanta Services by 15.5% in the second quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock valued at $12,642,000 after acquiring an additional 4,451 shares in the last quarter. Calamos Advisors LLC raised its stake in shares of Quanta Services by 17.1% during the third quarter. Calamos Advisors LLC now owns 105,401 shares of the construction company’s stock valued at $43,680,000 after purchasing an additional 15,388 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Quanta Services by 59.9% during the third quarter. Exchange Traded Concepts LLC now owns 44,392 shares of the construction company’s stock worth $18,397,000 after purchasing an additional 16,637 shares in the last quarter. Finally, Choreo LLC boosted its stake in shares of Quanta Services by 4.1% in the second quarter. Choreo LLC now owns 7,734 shares of the construction company’s stock valued at $2,924,000 after purchasing an additional 303 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR opened at $472.32 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $442.17 and its 200 day moving average price is $418.05. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $480.93. The firm has a market cap of $70.43 billion, a price-to-earnings ratio of 69.97, a price-to-earnings-growth ratio of 2.25 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 EPS for the quarter, beating the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The company had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the company earned $2.72 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Insider Activity

In other Quanta Services news, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the transaction, the executive vice president owned 34,575 shares in the company, valued at approximately $15,344,730.75. This represents a 28.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bernard Fried sold 4,000 shares of Quanta Services 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 sale, the director directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. This trade represents a 24.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PWR. Truist Financial boosted their price target on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Stifel Nicolaus set a $495.00 price target on shares of Quanta Services in a research note on Monday, November 3rd. Citigroup increased their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Sanford C. Bernstein cut their target price on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research note on Friday, December 19th. Finally, Evercore ISI lifted their price target on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $454.55.

Quanta Services 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.