Quanta Services, Inc. $PWR Stock Position Trimmed by Cerity Partners LLC

Cerity Partners LLC trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,896 shares of the construction company’s stock after selling 1,196 shares during the period. Cerity Partners LLC owned 0.10% of Quanta Services worth $59,219,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PWR. Gunderson Capital Management Inc. acquired a new stake in Quanta Services in the 3rd quarter valued at approximately $3,483,000. SeaBridge Investment Advisors LLC increased its holdings in shares of Quanta Services by 2.3% during the third quarter. SeaBridge Investment Advisors LLC now owns 10,200 shares of the construction company’s stock valued at $4,227,000 after purchasing an additional 231 shares during the period. CoreCap Advisors LLC raised its stake in shares of Quanta Services by 103.4% during the third quarter. CoreCap Advisors LLC now owns 7,839 shares of the construction company’s stock valued at $3,249,000 after purchasing an additional 3,985 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in Quanta Services by 2.8% in the third quarter. Kathmere Capital Management LLC now owns 961 shares of the construction company’s stock worth $398,000 after purchasing an additional 26 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its position in Quanta Services by 5.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 19,938 shares of the construction company’s stock valued at $8,263,000 after buying an additional 1,091 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 0.2%

Shares of Quanta Services stock opened at $437.40 on Thursday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $473.99. The firm has a market capitalization of $65.23 billion, a PE ratio of 64.80, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average is $442.48 and its 200-day moving average is $413.19.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share 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 analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.Quanta Services’s revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Insider Activity

In related news, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 34,575 shares in the company, valued at approximately $15,344,730.75. This represents a 28.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director owned 2,730 shares in the company, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,002 shares of company stock worth $14,295,857 over the last three months. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research analyst reports. Argus set a $540.00 price target on shares of Quanta Services in a research note on Friday, October 31st. Stifel Nicolaus set a $495.00 target price on Quanta Services in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Quanta Services in a research report on Monday, December 29th. Roth Capital set a $500.00 price objective on Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Citigroup lifted their target price on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company currently 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.