Quanta Services, Inc. $PWR Stake Decreased by Stack Financial Management Inc

Stack Financial Management Inc lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,198 shares of the construction company’s stock after selling 1,985 shares during the period. Quanta Services accounts for approximately 4.5% of Stack Financial Management Inc’s investment portfolio, making the stock its 4th biggest position. Stack Financial Management Inc owned about 0.09% of Quanta Services worth $54,786,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Copia Wealth Management increased its holdings in shares of Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. grew its holdings in 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 buying an additional 43 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Quanta Services during the 2nd quarter worth $26,000. Activest Wealth Management boosted its position in shares of Quanta Services by 94.1% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after acquiring an additional 32 shares during the last quarter. Finally, Solstein Capital LLC grew its holdings in shares of Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial lifted their target price on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Evercore ISI lifted their price target on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Stifel Nicolaus increased their price objective on Quanta Services from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group set a $495.00 target price on Quanta Services in a research report on Monday, November 24th. Finally, Jefferies Financial Group lowered their price target on Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $462.00.

Quanta Services Price Performance

PWR opened at $481.55 on Thursday. The stock’s 50-day moving average price is $446.21 and its 200 day moving average price is $421.27. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $487.00. The firm has a market cap of $71.81 billion, a price-to-earnings ratio of 71.34, a PEG ratio of 2.32 and a beta of 1.16. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

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 the consensus estimate of $3.24 by $0.09. The business had revenue of $7.63 billion for 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 quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.72 earnings per share. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Insider Buying and Selling at Quanta Services

In related news, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction 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 directly owned 12,493 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $8,903,756.80. This represents a 27.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is currently owned by corporate 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.