Mutual Advisors LLC Grows Stock Position in Quanta Services, Inc. $PWR

Mutual Advisors LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 613.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,383 shares of the construction company’s stock after acquiring an additional 4,629 shares during the period. Mutual Advisors LLC’s holdings in Quanta Services were worth $2,300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Freedom Day Solutions LLC acquired a new position in Quanta Services during the 2nd quarter worth about $2,465,000. Mediolanum International Funds Ltd increased its stake in Quanta Services by 15.5% during the second quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock worth $12,642,000 after purchasing an additional 4,451 shares during the period. Calamos Advisors LLC boosted its stake in shares of Quanta Services by 17.1% in the third quarter. Calamos Advisors LLC now owns 105,401 shares of the construction company’s stock valued at $43,680,000 after purchasing an additional 15,388 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Quanta Services by 59.9% in the third quarter. Exchange Traded Concepts LLC now owns 44,392 shares of the construction company’s stock valued at $18,397,000 after purchasing an additional 16,637 shares in the last quarter. Finally, Chilton Capital Management LLC increased its stake in Quanta Services by 63.3% during the 3rd quarter. Chilton Capital Management LLC now owns 166,536 shares of the construction company’s stock worth $69,016,000 after buying an additional 64,560 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PWR. The Goldman Sachs Group set a $495.00 price target on shares of Quanta Services in a research report on Monday, November 24th. Stifel Nicolaus increased their price objective on Quanta Services from $495.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Sanford C. Bernstein lowered their target price on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research note on Friday, December 19th. Truist Financial increased their price target 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, Roth Mkm set a $500.00 price objective on Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $462.00.

Quanta Services Price Performance

Shares of NYSE PWR opened at $477.26 on Tuesday. The stock’s 50-day simple moving average is $448.84 and its 200-day simple moving average is $423.34. The firm has a market capitalization of $71.17 billion, a PE ratio of 70.71, a price-to-earnings-growth ratio of 2.30 and a beta of 1.15. 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 debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34.

Insiders Place Their Bets

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider owned 19,960 shares in the company, valued at approximately $8,903,756.80. The trade was a 27.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Wayne sold 14,000 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the transaction, the executive vice president directly owned 34,575 shares in the company, valued at $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 28,002 shares of company stock valued at $12,487,097. 1.10% of the stock is owned by corporate insiders.

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.