Janney Capital Management LLC Reduces Position in Quanta Services, Inc. $PWR

Janney Capital Management LLC decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 27.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,559 shares of the construction company’s stock after selling 7,303 shares during the quarter. Janney Capital Management LLC’s holdings in Quanta Services were worth $8,106,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Quanta Services by 1.9% in the second quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after purchasing an additional 339,383 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Quanta Services by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock valued at $2,579,259,000 after buying 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 2nd quarter. State Street Corp now owns 6,007,287 shares of the construction company’s stock valued at $2,271,235,000 after buying an additional 24,669 shares during the period. Geode Capital Management LLC grew its holdings in shares of Quanta Services by 4.1% in the second quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock worth $1,458,362,000 after acquiring an additional 152,823 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Quanta Services by 57.2% during the second 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 acquiring an additional 882,209 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Up 2.4%

Shares of NYSE PWR opened at $432.91 on Tuesday. The business has a fifty day simple moving average of $440.79 and a two-hundred day simple moving average of $414.52. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $473.99. The firm has a market cap of $64.56 billion, a PE ratio of 64.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.16. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last posted 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. 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 for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the firm earned $2.72 earnings per share. 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. Analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s 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 completion of the transaction, the insider directly owned 19,960 shares in the company, valued at $8,903,756.80. The trade was a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction dated 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 sale, the director directly owned 12,493 shares in the company, valued at $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on PWR shares. Roth Capital set a $500.00 target price on Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Quanta Services in a report on Monday, December 29th. Jefferies Financial Group upped their target price on shares of Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Stifel Nicolaus set a $495.00 price objective on shares of Quanta Services in a research report on Monday, November 3rd. Finally, Citigroup lifted their target price on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $450.10.

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.