QRG Capital Management Inc. Reduces Stock Holdings in Quanta Services, Inc. $PWR

QRG Capital Management Inc. trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 43.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,091 shares of the construction company’s stock after selling 4,631 shares during the period. QRG Capital Management Inc.’s holdings in Quanta Services were worth $2,524,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC lifted its holdings in shares of Quanta Services by 13.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 1,626 shares of the construction company’s stock valued at $674,000 after acquiring an additional 193 shares in the last quarter. NBT Bank N A NY increased its stake in Quanta Services by 6.0% during the 3rd quarter. NBT Bank N A NY now owns 6,126 shares of the construction company’s stock worth $2,409,000 after buying an additional 348 shares during the period. First National Advisers LLC boosted its position in Quanta Services by 5.4% in the 3rd quarter. First National Advisers LLC now owns 7,170 shares of the construction company’s stock valued at $2,972,000 after buying an additional 368 shares during the last quarter. TKG Advisors LLC raised its holdings in Quanta Services by 3.5% in the third quarter. TKG Advisors LLC now owns 1,296 shares of the construction company’s stock valued at $537,000 after acquiring an additional 44 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $622,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PWR. Argus set a $540.00 target price on Quanta Services in a research note on Friday, October 31st. The Goldman Sachs Group set a $495.00 target price on shares of Quanta Services in a report on Monday, November 24th. Jefferies Financial Group lowered their target price on Quanta Services from $517.00 to $506.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Evercore ISI raised their price target on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Truist Financial lifted 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. Fourteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $449.57.

Insider Activity

In other Quanta Services news, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 2,730 shares in the company, valued at $1,229,728.50. This trade represents a 69.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the completion of the sale, the insider directly owned 19,960 shares in the company, valued at approximately $8,903,756.80. The trade was a 27.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 32,002 shares of company stock valued at $14,295,857 over the last quarter. 1.10% of the stock is owned by insiders.

Quanta Services Stock Performance

Shares of PWR stock opened at $466.97 on Tuesday. The stock has a market cap of $69.63 billion, a P/E ratio of 69.18, a P/E/G ratio of 2.26 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $480.93. The company has a fifty day moving average price of $441.43 and a two-hundred day moving average price of $417.13.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the previous year, the company posted $2.72 earnings per share. The firm’s revenue for the quarter 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 EPS for the current year.

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.