Rakuten Investment Management Inc. Takes $10.76 Million Position in Quanta Services, Inc. $PWR

Rakuten Investment Management Inc. purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 25,957 shares of the construction company’s stock, valued at approximately $10,757,000.

Several other institutional investors have also recently added to or reduced their stakes in PWR. Vanguard Group Inc. lifted its position in Quanta Services by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after acquiring an additional 339,383 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Quanta Services by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock worth $2,579,259,000 after purchasing an additional 49,334 shares during the last quarter. State Street Corp lifted its holdings in shares of Quanta Services by 0.4% during the second quarter. State Street Corp now owns 6,007,287 shares of the construction company’s stock worth $2,271,235,000 after purchasing an additional 24,669 shares during the period. Geode Capital Management LLC grew its position in Quanta Services by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock valued at $1,458,362,000 after buying an additional 152,823 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Quanta Services by 57.2% in the 2nd 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 during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of Quanta Services stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the completion of the transaction, the insider owned 19,960 shares of the company’s stock, valued at $8,903,756.80. The trade was a 27.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were 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 directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 32,002 shares of company stock worth $14,295,857. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

PWR stock opened at $472.32 on Thursday. The firm has a 50 day moving average of $442.17 and a 200-day moving average of $418.05. The company has a market cap of $70.43 billion, a price-to-earnings ratio of 69.97, a PEG ratio of 2.25 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, Inc. has a 12-month low of $227.08 and a 12-month high of $480.93.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on PWR. Roth Mkm set a $500.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 31st. Jefferies Financial Group reduced their price objective on shares of Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. The Goldman Sachs Group set a $495.00 target price on Quanta Services in a research report on Monday, November 24th. Argus set a $540.00 price target on Quanta Services in a report on Friday, October 31st. Finally, Citigroup upped their price objective on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $454.55.

About Quanta Services

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.