Quanta Services, Inc. $PWR Shares Sold by ZEGA Investments LLC

ZEGA Investments LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 33.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,798 shares of the construction company’s stock after selling 1,420 shares during the quarter. ZEGA Investments LLC’s holdings in Quanta Services were worth $1,160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Quanta Services in the 2nd quarter worth approximately $675,802,000. Kingstone Capital Partners Texas LLC purchased a new stake in Quanta Services during the second quarter worth $650,960,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in 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 valued at $917,009,000 after buying an additional 882,209 shares in the last quarter. Select Equity Group L.P. boosted its stake in shares of Quanta Services by 69.3% during the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock worth $384,554,000 after acquiring an additional 416,395 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Quanta Services by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock valued at $6,713,446,000 after acquiring an additional 339,383 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Up 2.4%

NYSE PWR opened at $432.91 on Tuesday. The business’s fifty day simple moving average is $440.79 and its 200-day simple moving average is $414.52. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The firm has a market cap of $64.56 billion, a PE ratio of 64.13, a P/E/G ratio of 2.05 and a beta of 1.16. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $473.99.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the firm earned $2.72 earnings per share. Quanta Services’s quarterly revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on PWR. Citigroup upped their price target on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Jefferies Financial Group increased their target price on Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Stifel Nicolaus set a $495.00 price target on shares of Quanta Services in a report on Monday, November 3rd. Sanford C. Bernstein dropped their target price on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research report on Friday, December 19th. Finally, Truist Financial upped their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $450.10.

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the transaction, the insider directly owned 19,960 shares in the company, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is currently owned by insiders.

Quanta Services Company 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.