Quanta Services, Inc. $PWR Shares Purchased by Albion Financial Group UT

Albion Financial Group UT lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 6.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,373 shares of the construction company’s stock after acquiring an additional 2,393 shares during the quarter. Quanta Services accounts for about 1.1% of Albion Financial Group UT’s portfolio, making the stock its 29th largest position. Albion Financial Group UT’s holdings in Quanta Services were worth $17,560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Quanta Services in the second quarter valued at approximately $675,802,000. Kingstone Capital Partners Texas LLC acquired a new position in Quanta Services during the 2nd quarter worth approximately $650,960,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Quanta Services by 57.2% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock valued at $917,009,000 after purchasing an additional 882,209 shares during the last quarter. Amundi raised its holdings in shares of Quanta Services by 188.3% in the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after purchasing an additional 788,079 shares in the last quarter. Finally, Select Equity Group L.P. lifted its position in shares of Quanta Services by 69.3% during the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock worth $384,554,000 after purchasing an additional 416,395 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Down 0.4%

Shares of NYSE:PWR opened at $430.83 on Tuesday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $473.99. 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 stock has a market cap of $64.25 billion, a P/E ratio of 63.83, a P/E/G ratio of 2.45 and a beta of 1.14. The firm has a fifty day moving average price of $442.98 and a 200 day moving average price of $410.02.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The business 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 company’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 posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Insider Activity at Quanta Services

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’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 transaction, the insider directly owned 19,960 shares of the company’s stock, valued at $8,903,756.80. The trade was a 27.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 32,002 shares of company stock valued at $14,295,857. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PWR shares. The Goldman Sachs Group set a $495.00 target price on Quanta Services in a report on Monday, November 24th. Evercore ISI increased their price objective on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Argus set a $540.00 target price on Quanta Services in a research note on Friday, October 31st. Roth Capital set a $500.00 price target on Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Jefferies Financial Group raised their price objective on shares of Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Thirteen equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $450.10.

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.