CoreCap Advisors LLC Purchases 3,985 Shares of Quanta Services, Inc. $PWR

CoreCap Advisors LLC grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 103.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,839 shares of the construction company’s stock after purchasing an additional 3,985 shares during the quarter. CoreCap Advisors LLC’s holdings in Quanta Services were worth $3,249,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Quanta Services during the second quarter valued at approximately $675,802,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Quanta Services during the 2nd quarter valued at $650,960,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in 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 worth $917,009,000 after purchasing an additional 882,209 shares during the period. Select Equity Group L.P. lifted its stake in Quanta Services by 69.3% in the second 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. Finally, Swedbank AB boosted its position in Quanta Services by 50.5% during the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock valued at $304,269,000 after buying an additional 401,418 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PWR shares. JPMorgan Chase & Co. upgraded Quanta Services from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $457.00 to $515.00 in a report on Monday, December 8th. Sanford C. Bernstein decreased their price target on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research note on Friday, December 19th. Argus set a $540.00 price objective on Quanta Services in a research note on Friday, October 31st. Robert W. Baird set a $490.00 target price on shares of Quanta Services in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Quanta Services in a report on Monday, December 29th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $450.10.

Quanta Services Stock Performance

Shares of PWR stock opened at $437.40 on Thursday. The firm has a market capitalization of $65.23 billion, a price-to-earnings ratio of 64.80, a PEG ratio of 2.13 and a beta of 1.16. The stock has a fifty day moving average of $442.48 and a 200 day moving average of $413.19. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $473.99. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping the consensus estimate 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 net margin of 3.74% and a return on equity of 18.74%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Insider Activity at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’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 completion of the transaction, the insider owned 19,960 shares in the company, valued at $8,903,756.80. This trade represents a 27.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total value of $1,808,760.00. Following the completion of the sale, the director directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is currently owned by corporate insiders.

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.