Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 7,210 Shares of Quanta Services, Inc. $PWR

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 34.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,160 shares of the construction company’s stock after buying an additional 7,210 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Quanta Services were worth $11,670,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Norges Bank purchased a new position in Quanta Services during the 2nd quarter valued at $675,802,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of Quanta Services during the 2nd quarter valued at about $650,960,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Quanta Services by 57.2% during the second 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 buying an additional 882,209 shares during the period. Select Equity Group L.P. raised 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 buying an additional 416,395 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Quanta Services by 1.9% in the second quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after buying an additional 339,383 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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 stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the transaction, the executive vice president directly owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. This represents a 28.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total value of $2,859,907.05. Following the completion of the sale, the director directly owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 32,002 shares of company stock worth $14,295,857. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 4.3%

Quanta Services stock opened at $466.97 on Friday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $480.93. The company has a market capitalization of $69.63 billion, a price-to-earnings ratio of 69.18, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The business’s fifty day simple moving average is $441.10 and its two-hundred day simple moving average is $415.95. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the firm earned $2.72 EPS. Quanta Services’s quarterly revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Evercore ISI upped their target price on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Robert W. Baird set a $490.00 price target on Quanta Services in a research report on Friday, October 31st. Argus set a $540.00 price target on Quanta Services in a research note on Friday, October 31st. Truist Financial raised their price objective on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Fourteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $449.57.

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.