Tompkins Financial Corp Buys New Shares in Quanta Services, Inc. $PWR

Tompkins Financial Corp bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,656 shares of the construction company’s stock, valued at approximately $2,344,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Freedom Day Solutions LLC acquired a new position in shares of Quanta Services during the second quarter valued at about $2,465,000. Mediolanum International Funds Ltd raised its holdings in shares of Quanta Services by 15.5% in the 2nd quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock worth $12,642,000 after acquiring an additional 4,451 shares during the last quarter. Choreo LLC boosted its stake in Quanta Services by 4.1% during the 2nd quarter. Choreo LLC now owns 7,734 shares of the construction company’s stock valued at $2,924,000 after purchasing an additional 303 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Quanta Services by 0.9% in the second quarter. PNC Financial Services Group Inc. now owns 606,414 shares of the construction company’s stock worth $229,273,000 after purchasing an additional 5,670 shares during the last quarter. Finally, Brighton Jones LLC bought a new position in shares of Quanta Services in the fourth quarter valued at approximately $298,000. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of analyst reports. Jefferies Financial Group increased their price target on Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Mizuho set a $415.00 target price on shares of Quanta Services in a research note on Tuesday, October 28th. The Goldman Sachs Group set a $495.00 price target on shares of Quanta Services in a research report on Monday, November 24th. Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Truist Financial increased their price objective on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $449.24.

Quanta Services Stock Performance

NYSE:PWR opened at $414.71 on Thursday. The company has a market capitalization of $61.84 billion, a P/E ratio of 61.44, a P/E/G ratio of 2.49 and a beta of 1.14. The business has a fifty day simple moving average of $443.30 and a two-hundred day simple moving average of $405.43. 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 $473.99.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the company earned $2.72 EPS. The firm’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. On average, 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 other news, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the sale, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is currently owned by company insiders.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.