State Street Corp Increases Holdings in Quanta Services, Inc. $PWR

State Street Corp increased its position in Quanta Services, Inc. (NYSE:PWR) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,007,287 shares of the construction company’s stock after acquiring an additional 24,669 shares during the period. State Street Corp owned approximately 4.03% of Quanta Services worth $2,271,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Brighton Jones LLC purchased a new position in shares of Quanta Services in the fourth quarter valued at $298,000. Townsquare Capital LLC grew its stake in Quanta Services by 23.3% in the 1st quarter. Townsquare Capital LLC now owns 5,678 shares of the construction company’s stock valued at $1,443,000 after acquiring an additional 1,074 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Quanta Services during the 1st quarter valued at about $40,000. Benjamin Edwards Inc. raised its position in Quanta Services by 42.2% during the first quarter. Benjamin Edwards Inc. now owns 3,040 shares of the construction company’s stock worth $773,000 after acquiring an additional 902 shares during the last quarter. Finally, SouthState Corp purchased a new stake in shares of Quanta Services in the first quarter valued at about $84,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group set a $495.00 price objective on Quanta Services in a research report on Monday, November 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Quanta Services in a research report on Monday. Roth Capital set a $500.00 price objective on Quanta Services and gave the company a “buy” rating in a research report on Friday, October 31st. Citigroup increased their price objective on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Truist Financial boosted their target price on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $449.24.

Quanta Services Stock Performance

Quanta Services stock opened at $458.29 on Wednesday. The stock has a fifty day moving average price of $441.36 and a 200 day moving average price of $401.56. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $473.99. The firm has a market capitalization of $68.34 billion, a P/E ratio of 67.89, a PEG ratio of 2.63 and a beta of 1.14. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 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 company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the previous year, the business earned $2.72 EPS. The firm’s revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Insider Activity at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction 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 sale, the insider directly owned 19,960 shares in the company, valued at $8,903,756.80. This represents a 27.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction on 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 transaction, the executive vice president owned 34,575 shares in the company, valued at $15,344,730.75. The trade was a 28.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is currently owned by company insiders.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.