Spire Wealth Management Grows Stock Position in Quanta Services, Inc. $PWR

Spire Wealth Management increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 4,855.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,720 shares of the construction company’s stock after buying an additional 25,201 shares during the quarter. Spire Wealth Management’s holdings in Quanta Services were worth $10,659,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Freedom Day Solutions LLC purchased a new stake in shares of Quanta Services during the 2nd quarter worth approximately $2,465,000. Mediolanum International Funds Ltd increased its position in Quanta Services by 15.5% in the second quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock worth $12,642,000 after purchasing an additional 4,451 shares during the last quarter. Calamos Advisors LLC raised its stake in Quanta Services by 17.1% during the third quarter. Calamos Advisors LLC now owns 105,401 shares of the construction company’s stock valued at $43,680,000 after purchasing an additional 15,388 shares in the last quarter. Choreo LLC lifted its position in Quanta Services by 4.1% during the second 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. Finally, Exchange Traded Concepts LLC grew its stake in shares of Quanta Services by 59.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 44,392 shares of the construction company’s stock worth $18,397,000 after buying an additional 16,637 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider owned 19,960 shares in the company, valued at approximately $8,903,756.80. The trade was a 27.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bernard Fried sold 4,000 shares of the firm’s 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 transaction, the director owned 12,493 shares in the company, valued at $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,002 shares of company stock valued at $14,295,857 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $437.40 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average is $442.48 and its two-hundred day moving average is $413.19. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $473.99. The company has a market capitalization of $65.23 billion, a PE ratio of 64.80, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PWR. Evercore ISI upped their target price 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 set a $495.00 price objective on Quanta Services in a research report on Monday, November 3rd. JPMorgan Chase & Co. raised Quanta Services from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $457.00 to $515.00 in a research report on Monday, December 8th. The Goldman Sachs Group set a $495.00 price target on Quanta Services in a report on Monday, November 24th. Finally, Roth Capital set a $500.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $450.10.

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.