Monarch Capital Management Inc. Has $8.20 Million Stock Position in Quanta Services, Inc. $PWR

Monarch Capital Management Inc. reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 6.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,696 shares of the construction company’s stock after selling 1,380 shares during the quarter. Quanta Services accounts for about 2.2% of Monarch Capital Management Inc.’s holdings, making the stock its 14th biggest holding. Monarch Capital Management Inc.’s holdings in Quanta Services were worth $8,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC acquired a new stake in shares of Quanta Services in the 4th quarter valued at approximately $298,000. Russell Investments Group Ltd. boosted its position in Quanta Services by 6.9% in the first quarter. Russell Investments Group Ltd. now owns 73,895 shares of the construction company’s stock valued at $18,786,000 after buying an additional 4,769 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its stake in shares of Quanta Services by 214.0% during the first quarter. Vestmark Advisory Solutions Inc. now owns 3,291 shares of the construction company’s stock worth $837,000 after buying an additional 2,243 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Quanta Services by 229.9% during the first quarter. Kovitz Investment Group Partners LLC now owns 11,343 shares of the construction company’s stock worth $2,883,000 after buying an additional 7,905 shares in the last quarter. Finally, Aberdeen Group plc lifted its stake in shares of Quanta Services by 33.4% in the 1st quarter. Aberdeen Group plc now owns 105,958 shares of the construction company’s stock valued at $26,494,000 after acquiring an additional 26,549 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was 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 owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Donald Wayne sold 14,000 shares of the business’s stock in a transaction that occurred 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 directly owned 34,575 shares in the company, valued at approximately $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,002 shares of company stock worth $14,295,857 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Down 6.3%

Quanta Services stock opened at $437.55 on Friday. The firm has a market cap of $65.25 billion, a price-to-earnings ratio of 64.82, a PEG ratio of 2.48 and a beta of 1.14. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $473.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The firm has a 50 day moving average price of $443.42 and a two-hundred day moving average price of $403.57.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping 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 revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup boosted their price objective on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. The Goldman Sachs Group set a $495.00 price target on Quanta Services in a report on Monday, November 24th. Mizuho set a $415.00 price objective on shares of Quanta Services in a report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Quanta Services in a report on Monday, December 8th. Finally, Roth Capital set a $500.00 price target on shares of Quanta Services and gave the company a “buy” rating in a research report 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $449.24.

About Quanta Services

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.