Blackhawk Capital Partners LLC Raises Stock Position in Quanta Services, Inc. $PWR

Blackhawk Capital Partners LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 187.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,040 shares of the construction company’s stock after buying an additional 3,284 shares during the period. Blackhawk Capital Partners LLC’s holdings in Quanta Services were worth $2,089,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PWR. Norges Bank bought a new stake in shares of Quanta Services during the 2nd quarter valued at about $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Quanta Services by 57.2% in 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 worth $917,009,000 after buying an additional 882,209 shares during the last quarter. Select Equity Group L.P. grew its position in Quanta Services by 69.3% during the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock valued at $384,554,000 after buying an additional 416,395 shares during the period. Vanguard Group Inc. raised its position 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 acquiring an additional 339,383 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Quanta Services by 150.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company’s stock worth $156,026,000 after acquiring an additional 251,845 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total value of $1,808,760.00. Following the transaction, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This represents a 24.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,002 shares of company stock valued at $14,295,857 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of several analyst reports. Cantor Fitzgerald started coverage on Quanta Services in a research report on Friday. They set an “overweight” rating and a $520.00 target price on the stock. Robert W. Baird set a $490.00 price objective on Quanta Services in a research report on Friday, October 31st. Argus set a $540.00 target price on shares of Quanta Services in a report on Friday, October 31st. Citigroup raised their target price on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Mizuho set a $415.00 price target on shares of Quanta Services in a research report on Tuesday, October 28th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $460.20.

Quanta Services Trading Down 0.0%

Quanta Services stock opened at $468.75 on Friday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $483.29. The firm’s 50 day moving average price is $443.81 and its 200-day moving average price is $418.98. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a market cap of $69.90 billion, a P/E ratio of 69.44, a PEG 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 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.09. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. Quanta Services’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the company posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal 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.