Y Intercept Hong Kong Ltd Takes Position in Quanta Services, Inc. $PWR

Y Intercept Hong Kong Ltd purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,908 shares of the construction company’s stock, valued at approximately $1,205,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PWR. Copia Wealth Management grew its position in shares of Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Quanta Services in the 2nd quarter valued at approximately $26,000. SOA Wealth Advisors LLC. boosted its stake in Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after buying an additional 43 shares during the period. Solstein Capital LLC boosted its stake in shares of Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. Finally, Ameriflex Group Inc. boosted its position in shares of Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after buying an additional 40 shares during the period. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of several research analyst reports. Jefferies Financial Group decreased their target price on Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Cantor Fitzgerald assumed coverage on shares of Quanta Services in a report on Friday, January 23rd. They set an “overweight” rating and a $520.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Quanta Services from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $457.00 to $515.00 in a report on Monday, December 8th. Evercore ISI upped their price target on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, Mizuho set a $415.00 price target on Quanta Services in a research note on Tuesday, October 28th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $462.00.

Insider Buying and Selling at Quanta Services

In other news, EVP Donald Wayne sold 14,000 shares of the stock in a transaction dated 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 directly owned 34,575 shares in the company, valued at $15,344,730.75. This represents a 28.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the sale, the insider directly owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. This represents a 27.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 32,002 shares of company stock worth $14,295,857. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 1.8%

PWR opened at $474.80 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $489.05. The company has a fifty day moving average of $448.17 and a two-hundred day moving average of $422.55. The stock has a market capitalization of $70.80 billion, a price-to-earnings ratio of 70.34, a PEG ratio of 2.34 and a beta of 1.16.

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, topping analysts’ consensus estimates of $3.24 by $0.09. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.72 earnings per share. On average, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

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.