National Pension Service Increases Stake in Quanta Services, Inc. $PWR

National Pension Service grew its stake in Quanta Services, Inc. (NYSE:PWR) by 0.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 418,930 shares of the construction company’s stock after buying an additional 3,701 shares during the quarter. National Pension Service’s holdings in Quanta Services were worth $173,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC acquired a new stake in Quanta Services during the fourth quarter valued at $298,000. Woodline Partners LP boosted its stake in shares of Quanta Services by 40.7% during the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock worth $3,170,000 after acquiring an additional 3,606 shares in the last quarter. Capital Investment Advisors LLC acquired a new stake in shares of Quanta Services during the 2nd quarter valued at about $217,000. SOA Wealth Advisors LLC. increased its stake in shares of Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. raised its holdings in Quanta Services by 214.5% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 13,092 shares of the construction company’s stock worth $4,949,000 after purchasing an additional 8,929 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

PWR stock opened at $474.80 on Friday. The business has a 50 day simple moving average of $448.17 and a 200-day simple moving average of $422.55. The firm has a market capitalization of $70.80 billion, a PE ratio of 70.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $489.05.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) 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 return on equity of 18.74% and a net margin of 3.74%.The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.72 EPS. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial raised their price objective on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Robert W. Baird set a $490.00 price target on shares of Quanta Services in a research note on Friday, October 31st. Evercore ISI upped their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Argus set a $540.00 target price on shares of Quanta Services in a research note on Friday, October 31st. Finally, The Goldman Sachs Group set a $495.00 price objective on Quanta Services in a report on Monday, November 24th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $462.00.

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total value of $3,413,850.24. Following the transaction, the insider directly owned 19,960 shares in the company, valued at approximately $8,903,756.80. This represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total value of $1,808,760.00. Following the completion of the transaction, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 32,002 shares of company stock valued at $14,295,857 over the last three months. 1.10% of the stock is currently owned by company insiders.

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.