Lee Johnson Capital Management LLC Trims Stake in Quanta Services, Inc. $PWR

Lee Johnson Capital Management LLC cut its stake in Quanta Services, Inc. (NYSE:PWR) by 52.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,062 shares of the construction company’s stock after selling 2,243 shares during the period. Lee Johnson Capital Management LLC’s holdings in Quanta Services were worth $855,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PWR. Copia Wealth Management boosted its holdings in shares of Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Darwin Wealth Management LLC bought a new stake in Quanta Services during the second quarter worth about $26,000. Solstein Capital LLC grew its holdings in Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. Finally, Ameriflex Group Inc. increased its stake in shares of Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

PWR has been the topic of several recent research reports. Citigroup upped their price target on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $457.00 to $515.00 in a research report on Monday, December 8th. Truist Financial increased their price target 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 Quanta Services in a research note on Friday, October 31st. Finally, Jefferies Financial Group upped their price objective on Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $450.10.

Insider Transactions at Quanta Services

In related news, EVP Donald Wayne sold 14,000 shares of the business’s 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 sale, the executive vice president owned 34,575 shares in the company, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the transaction, the insider owned 19,960 shares of the company’s stock, valued at $8,903,756.80. This trade represents a 27.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by insiders.

Quanta Services Stock Performance

PWR opened at $428.76 on Wednesday. The firm has a market cap of $63.94 billion, a P/E ratio of 63.52, a PEG ratio of 2.44 and a beta of 1.14. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $473.99. The company has a 50 day simple moving average of $442.81 and a two-hundred day simple moving average of $410.52. 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 (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the business posted $2.72 EPS. Quanta Services’s revenue for the quarter 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. Equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

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.