Investment House LLC Lowers Position in Quanta Services, Inc. $PWR

Investment House LLC decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 58.7% during the third quarter, HoldingsChannel reports. The firm owned 3,546 shares of the construction company’s stock after selling 5,031 shares during the period. Investment House LLC’s holdings in Quanta Services were worth $1,470,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Petros Family Wealth LLC increased its holdings in Quanta Services by 2.2% during the third quarter. Petros Family Wealth LLC now owns 1,101 shares of the construction company’s stock valued at $456,000 after buying an additional 24 shares during the period. Old Port Advisors lifted its holdings in Quanta Services by 0.7% during the second quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after buying an additional 26 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in Quanta Services by 1.2% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after acquiring an additional 26 shares in the last quarter. Carr Financial Group Corp raised its position in shares of Quanta Services by 1.8% in the 3rd quarter. Carr Financial Group Corp now owns 1,471 shares of the construction company’s stock worth $610,000 after acquiring an additional 26 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its stake in shares of Quanta Services by 2.8% during the 3rd quarter. Kathmere Capital Management LLC now owns 961 shares of the construction company’s stock worth $398,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PWR. Roth Mkm set a $500.00 target price on Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Citigroup lifted their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Mizuho set a $415.00 price objective on shares of Quanta Services in a research note on Tuesday, October 28th. Jefferies Financial Group lowered their target price on shares of Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Finally, Cantor Fitzgerald initiated coverage on shares of Quanta Services in a report on Friday. They issued an “overweight” rating and a $520.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $460.20.

Quanta Services Stock Down 0.0%

NYSE:PWR opened at $468.75 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $483.29. The company has a market cap of $69.90 billion, a PE ratio of 69.44, a P/E/G ratio of 2.27 and a beta of 1.16. The company’s 50 day moving average is $443.81 and its two-hundred day moving average is $419.27.

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

Insider Transactions at Quanta Services

In related news, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the sale, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the completion of the sale, the director owned 2,730 shares in the company, valued at approximately $1,229,728.50. This represents a 69.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by insiders.

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.