CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Increases Stock Position in Quanta Services, Inc. $PWR

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 16.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,000 shares of the construction company’s stock after buying an additional 5,000 shares during the period. Quanta Services comprises approximately 0.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 28th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Quanta Services were worth $14,505,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Diversified Trust Co increased its position in shares of Quanta Services by 482.2% during the third quarter. Diversified Trust Co now owns 5,473 shares of the construction company’s stock worth $2,268,000 after acquiring an additional 4,533 shares during the last quarter. Albion Financial Group UT grew its stake in Quanta Services by 6.0% during the 3rd quarter. Albion Financial Group UT now owns 42,373 shares of the construction company’s stock valued at $17,560,000 after purchasing an additional 2,393 shares in the last quarter. Oak Harvest Investment Services increased its holdings in Quanta Services by 3.8% during the 3rd quarter. Oak Harvest Investment Services now owns 2,945 shares of the construction company’s stock worth $1,220,000 after purchasing an additional 109 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of Quanta Services by 2,878.2% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 16,559 shares of the construction company’s stock valued at $6,862,000 after purchasing an additional 16,003 shares in the last quarter. Finally, Nixon Peabody Trust Co. grew its position in shares of Quanta Services by 0.9% during the third quarter. Nixon Peabody Trust Co. now owns 18,401 shares of the construction company’s stock worth $7,626,000 after buying an additional 171 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction dated 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 owned 19,960 shares in the company, valued at approximately $8,903,756.80. This represents a 27.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Worthing Jackman sold 6,349 shares of the firm’s 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 completion of the sale, the director owned 2,730 shares in the company, valued at $1,229,728.50. The trade was a 69.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 over the last ninety days. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 0.5%

NYSE:PWR opened at $428.76 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $442.81 and a 200-day moving average of $410.52. The firm has a market capitalization of $63.94 billion, a PE ratio of 63.52, a price-to-earnings-growth ratio of 2.44 and a beta of 1.14. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $473.99.

Quanta Services (NYSE:PWR) last released its quarterly earnings data 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 during 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 business’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 firm posted $2.72 EPS. 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.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Argus set a $540.00 price target on shares of Quanta Services in a report on Friday, October 31st. Roth Capital set a $500.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 31st. Robert W. Baird set a $490.00 price objective on Quanta Services in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Quanta Services in a report on Monday. Finally, Sanford C. Bernstein lowered their price target on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a report on Friday, December 19th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $450.10.

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.