Algebris UK Ltd. Invests $1.05 Million in Quanta Services, Inc. $PWR

Algebris UK Ltd. acquired a new position in Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,530 shares of the construction company’s stock, valued at approximately $1,048,000.

A number of other institutional investors also recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Quanta Services by 157.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 628 shares of the construction company’s stock valued at $264,000 after buying an additional 384 shares in the last quarter. Retirement Systems of Alabama bought a new stake in Quanta Services during the 3rd quarter worth approximately $13,173,000. First Citizens Bank & Trust Co. lifted its holdings in Quanta Services by 34.1% during the third quarter. First Citizens Bank & Trust Co. now owns 814 shares of the construction company’s stock valued at $337,000 after purchasing an additional 207 shares in the last quarter. TFR Capital LLC. lifted its holdings in Quanta Services by 6.0% during the third quarter. TFR Capital LLC. now owns 4,554 shares of the construction company’s stock valued at $1,887,000 after purchasing an additional 258 shares in the last quarter. Finally, Patten & Patten Inc. TN boosted its position in shares of Quanta Services by 3.6% in the third quarter. Patten & Patten Inc. TN now owns 2,135 shares of the construction company’s stock worth $885,000 after purchasing an additional 75 shares during the period. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Cantor Fitzgerald started coverage on Quanta Services in a report on Friday. They set an “overweight” rating and a $520.00 price target on the stock. Stifel Nicolaus set a $495.00 price objective on Quanta Services in a research note on Monday, November 3rd. Roth Mkm set a $500.00 target price on Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, The Goldman Sachs Group set a $495.00 price target on Quanta Services in a report on Monday, November 24th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $460.20.

Quanta Services Stock Performance

NYSE PWR opened at $468.75 on Monday. 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 1-year low of $227.08 and a 1-year high of $483.29. The business has a 50 day simple moving average of $443.81 and a two-hundred day simple moving average of $419.53. The stock has a market capitalization of $69.90 billion, a PE ratio of 69.44, a P/E/G ratio of 2.27 and a beta of 1.16.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $7.41 billion. During the same period in the prior year, the company earned $2.72 EPS. The company’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. On average, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Insider Buying and Selling at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the sale, the director directly owned 2,730 shares in the company, valued at $1,229,728.50. The trade was a 69.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 32,002 shares of company stock valued at $14,295,857. Corporate insiders own 1.10% of the company’s stock.

About Quanta Services

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.