Seelaus Asset Management LLC Buys New Stake in Quanta Services, Inc. $PWR

Seelaus Asset Management LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,170 shares of the construction company’s stock, valued at approximately $899,000.

Other institutional investors also recently bought and sold shares of the company. Blackhawk Capital Partners LLC boosted its stake in shares of Quanta Services by 187.0% in the third quarter. Blackhawk Capital Partners LLC now owns 5,040 shares of the construction company’s stock valued at $2,089,000 after buying an additional 3,284 shares in the last quarter. Modera Wealth Management LLC increased its position in Quanta Services by 136.6% during the 3rd quarter. Modera Wealth Management LLC now owns 1,332 shares of the construction company’s stock worth $552,000 after purchasing an additional 769 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Quanta Services in the third quarter valued at $1,205,000. Mn Services Vermogensbeheer B.V. raised its stake in Quanta Services by 1.3% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 56,100 shares of the construction company’s stock worth $23,249,000 after purchasing an additional 700 shares during the period. Finally, UniSuper Management Pty Ltd increased its stake in Quanta Services by 20.2% during the third quarter. UniSuper Management Pty Ltd now owns 51,206 shares of the construction company’s stock worth $21,221,000 after acquiring an additional 8,618 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of NYSE:PWR traded down $0.03 during midday trading on Friday, hitting $468.75. The company’s stock had a trading volume of 761,511 shares, compared to its average volume of 820,552. The stock has a market capitalization of $69.90 billion, a price-to-earnings ratio of 69.44, a PEG ratio of 2.27 and a beta of 1.16. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $483.29. The stock’s 50 day simple moving average is $443.81 and its 200 day simple moving average is $418.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34.

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 analysts’ consensus estimates of $3.24 by $0.09. The firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The business’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Quanta Services from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $457.00 to $515.00 in a research note on Monday, December 8th. Stifel Nicolaus set a $495.00 price objective on shares of Quanta Services in a research note on Monday, November 3rd. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Jefferies Financial Group cut their price objective on shares of Quanta Services from $517.00 to $506.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Finally, Robert W. Baird set a $490.00 price objective on Quanta Services in a research note on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $460.20.

Insider Buying and Selling at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total value of $2,859,907.05. Following the transaction, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This represents a 69.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction on 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 owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. This represents a 24.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is currently owned by corporate insiders.

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.