HBK Sorce Advisory LLC Acquires Shares of 1,625 Quanta Services, Inc. $PWR

HBK Sorce Advisory LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,625 shares of the construction company’s stock, valued at approximately $721,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PWR. Copia Wealth Management grew its position in Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Quanta Services during the 2nd quarter worth $26,000. Solstein Capital LLC increased its position in shares of Quanta Services by 185.7% in 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 during the period. Finally, WPG Advisers LLC acquired a new position in Quanta Services in the first quarter valued at about $31,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of PWR opened at $433.58 on Friday. The business has a 50-day moving average of $443.23 and a 200-day moving average of $408.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The company has a market capitalization of $64.66 billion, a price-to-earnings ratio of 64.23, a price-to-earnings-growth ratio of 2.46 and a beta of 1.14. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $473.99.

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

Insider Activity at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction 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 directly owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 stock was sold at an average price of $446.08, for a total value of $3,413,850.24. Following the transaction, the insider directly owned 19,960 shares in the company, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PWR shares. Weiss Ratings lowered shares of Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. The Goldman Sachs Group set a $495.00 price target on shares of Quanta Services in a research report on Monday, November 24th. Stifel Nicolaus set a $495.00 price objective on shares of Quanta Services in a research report on Monday, November 3rd. Truist Financial boosted their target price on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Mizuho set a $415.00 price target on shares of Quanta Services in a research note on Tuesday, October 28th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $450.10.

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.