Quanta Services, Inc. $PWR Shares Sold by Stack Financial Management Inc

Stack Financial Management Inc lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 132,198 shares of the construction company’s stock after selling 1,985 shares during the period. Quanta Services accounts for approximately 4.5% of Stack Financial Management Inc’s investment portfolio, making the stock its 4th biggest holding. Stack Financial Management Inc’s holdings in Quanta Services were worth $54,786,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PWR. Copia Wealth Management lifted its position in shares of Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. raised its stake 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 acquiring an additional 43 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Quanta Services in the second quarter valued at $26,000. Activest Wealth Management boosted its stake in Quanta Services by 94.1% in the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after acquiring an additional 32 shares in the last quarter. Finally, Solstein Capital LLC increased its position in shares of Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total transaction 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. The trade was a 24.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the completion of the transaction, the insider owned 19,960 shares of the company’s stock, valued at $8,903,756.80. This represents a 27.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,002 shares of company stock valued at $14,295,857 in the last three months. 1.10% of the stock is owned by corporate insiders.

Quanta Services Trading Up 0.5%

Shares of Quanta Services stock opened at $481.55 on Thursday. The firm has a market cap of $71.81 billion, a price-to-earnings ratio of 71.34, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $487.00. The company’s 50-day simple moving average is $446.21 and its 200-day simple moving average is $421.27. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share 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 analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.72 EPS. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analyst Weigh In

PWR has been the subject of several research analyst reports. Roth Mkm set a $500.00 price objective on Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. Citigroup increased their price target on shares of Quanta Services from $526.00 to $540.00 and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a research note on Friday, October 31st. Evercore ISI increased their target price on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Truist Financial raised their price target on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $462.00.

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.