Fort Washington Investment Advisors Inc. OH Buys 16,003 Shares of Quanta Services, Inc. $PWR

Fort Washington Investment Advisors Inc. OH increased its stake in Quanta Services, Inc. (NYSE:PWR) by 2,878.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,559 shares of the construction company’s stock after buying an additional 16,003 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Quanta Services were worth $6,862,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PWR. Copia Wealth Management lifted its stake in Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after acquiring an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. raised 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 valued at $26,000 after purchasing an additional 43 shares during the period. Darwin Wealth Management LLC acquired a new stake in Quanta Services in the 2nd quarter valued at about $26,000. Solstein Capital LLC grew its holdings in Quanta Services by 185.7% during 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, Ameriflex Group Inc. increased its position in Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after buying an additional 40 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 12,493 shares in the company, valued at $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction on Thursday, November 6th. The shares were 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 owned 34,575 shares in the company, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,002 shares of company stock valued at $14,295,857 in the last three months. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 0.5%

Shares of NYSE PWR opened at $428.76 on Wednesday. The stock has a market capitalization of $63.94 billion, a P/E ratio of 63.52, a PEG ratio of 2.44 and a beta of 1.14. The stock’s fifty day moving average is $442.81 and its 200 day moving average is $410.52. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $473.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The firm had revenue of $7.63 billion for 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% on a year-over-year basis. 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. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PWR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised Quanta Services from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $457.00 to $515.00 in a research report on Monday, December 8th. Jefferies Financial Group increased their price target on Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Citigroup raised their price target on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a report on Friday, October 31st. Mizuho set a $415.00 price objective on shares of Quanta Services in a report on Tuesday, October 28th. Finally, The Goldman Sachs Group set a $495.00 target price on shares of Quanta Services in a research note on Monday, November 24th. 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.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target 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.