Congress Asset Management Co. Purchases 149,092 Shares of Quanta Services, Inc. $PWR

Congress Asset Management Co. increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 316.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 196,145 shares of the construction company’s stock after buying an additional 149,092 shares during the period. Congress Asset Management Co. owned about 0.13% of Quanta Services worth $81,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Old Port Advisors raised its holdings in shares of Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after purchasing an additional 26 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its stake in Quanta Services by 1.2% in the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock worth $851,000 after buying an additional 26 shares in the last quarter. Carr Financial Group Corp lifted its holdings in Quanta Services by 1.8% during the third quarter. Carr Financial Group Corp now owns 1,471 shares of the construction company’s stock worth $610,000 after buying an additional 26 shares during the period. RiverPark Advisors LLC boosted its position in Quanta Services by 29.3% during the 2nd quarter. RiverPark Advisors LLC now owns 128 shares of the construction company’s stock valued at $48,000 after acquiring an additional 29 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in shares of Quanta Services by 0.6% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 5,111 shares of the construction company’s stock valued at $2,118,000 after acquiring an additional 29 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of analyst reports. Evercore ISI upped their price objective on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. upgraded shares of Quanta Services from a “neutral” rating to an “overweight” rating and raised their price target for the company from $457.00 to $515.00 in a report on Monday, December 8th. Argus set a $540.00 price objective on shares of Quanta Services in a research note on Friday, October 31st. Stifel Nicolaus set a $495.00 target price on shares of Quanta Services in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group set a $495.00 price target on Quanta Services in a research report on Monday, November 24th. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $450.10.

Quanta Services Trading Up 1.2%

Shares of Quanta Services stock opened at $426.50 on Friday. The firm’s 50 day simple moving average is $443.31 and its two-hundred day simple moving average is $406.45. The firm has a market capitalization of $63.60 billion, a price-to-earnings ratio of 63.19, a PEG ratio of 2.42 and a beta of 1.14. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $473.99. 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 (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 predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was 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 directly owned 34,575 shares in the company, valued at $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the sale, the insider owned 19,960 shares in the company, valued at approximately $8,903,756.80. This represents a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is owned by company insiders.

About Quanta Services

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.