DAVENPORT & Co LLC Purchases New Shares in Quanta Services, Inc. $PWR

DAVENPORT & Co LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 235,038 shares of the construction company’s stock, valued at approximately $97,080,000. DAVENPORT & Co LLC owned approximately 0.16% of Quanta Services as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Copia Wealth Management grew its position in Quanta Services by 509.1% in 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 in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Quanta Services in the 2nd quarter valued at approximately $26,000. SOA Wealth Advisors LLC. boosted its holdings in shares of Quanta Services by 159.3% in 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 period. Solstein Capital LLC increased its position 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 purchasing an additional 52 shares during the last quarter. Finally, Ameriflex Group Inc. raised its holdings in Quanta Services by 93.0% during the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after buying an additional 40 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group lifted their price objective on shares of Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Sanford C. Bernstein dropped their price target on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research note on Friday, December 19th. Evercore ISI increased their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Truist Financial raised their price objective on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus set a $495.00 target price on Quanta Services in a research note on Monday, November 3rd. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $450.10.

Quanta Services Price Performance

Shares of PWR stock opened at $435.52 on Wednesday. The stock has a market capitalization of $64.94 billion, a price-to-earnings ratio of 64.52, a P/E/G ratio of 2.46 and a beta of 1.14. 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 $473.99. The stock has a fifty day simple moving average of $443.37 and a two-hundred day simple moving average of $407.82.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share 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 firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the company posted $2.72 earnings per share. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Insider Buying and Selling at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director directly owned 2,730 shares in the company, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Wayne sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the transaction, the executive vice president directly owned 34,575 shares of the company’s stock, valued at $15,344,730.75. This trade represents a 28.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,002 shares of company stock worth $14,295,857 over the last quarter. 1.10% of the stock is currently owned by company 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.