Valiant Capital Management L.P. Lowers Stock Holdings in Quanta Services, Inc. $PWR

Valiant Capital Management L.P. cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 5.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,220 shares of the construction company’s stock after selling 6,000 shares during the quarter. Quanta Services accounts for 2.3% of Valiant Capital Management L.P.’s investment portfolio, making the stock its 14th largest position. Valiant Capital Management L.P. owned about 0.07% of Quanta Services worth $42,050,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PWR. Norges Bank acquired a new position in Quanta Services during the second quarter worth $675,802,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Quanta Services during the second quarter worth about $650,960,000. Amundi raised its position in shares of Quanta Services by 188.3% during the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after purchasing an additional 788,079 shares during the last quarter. Swedbank AB boosted its holdings in Quanta Services by 50.5% in the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock worth $304,269,000 after buying an additional 401,418 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Quanta Services by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after buying an additional 339,383 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PWR shares. Truist Financial lifted their price target on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Argus set a $540.00 target price on shares of Quanta Services in a research note on Friday, October 31st. Jefferies Financial Group increased their target price on shares of Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Citigroup raised their price target 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, Evercore ISI upped their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $449.24.

Quanta Services Price Performance

Quanta Services stock opened at $458.29 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $441.36 and a 200 day moving average price of $401.56. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $473.99. The stock has a market cap of $68.34 billion, a P/E ratio of 67.89, a PEG ratio of 2.63 and a beta of 1.14.

Quanta Services (NYSE:PWR) last posted its quarterly 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 business 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%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Insiders Place Their Bets

In other Quanta Services 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 transaction of $6,213,340.00. Following the completion of the transaction, the executive vice president owned 34,575 shares of the company’s stock, valued at $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bernard Fried sold 4,000 shares of the business’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 transaction of $1,808,760.00. Following the completion of the sale, the director directly owned 12,493 shares in the company, valued at $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 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.