Quanta Services, Inc. $PWR Holdings Lifted by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 675,658 shares of the construction company’s stock after acquiring an additional 26,743 shares during the period. Federated Hermes Inc. owned about 0.45% of Quanta Services worth $280,006,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PWR. Freedom Day Solutions LLC purchased a new stake in shares of Quanta Services during the 2nd quarter worth about $2,465,000. Mediolanum International Funds Ltd lifted its stake 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 valued at $12,642,000 after acquiring an additional 4,451 shares during the last quarter. Calamos Advisors LLC grew its position in Quanta Services by 17.1% in the third quarter. Calamos Advisors LLC now owns 105,401 shares of the construction company’s stock worth $43,680,000 after acquiring an additional 15,388 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Quanta Services by 59.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 44,392 shares of the construction company’s stock valued at $18,397,000 after purchasing an additional 16,637 shares in the last quarter. Finally, Choreo LLC boosted its holdings in Quanta Services by 4.1% in the second quarter. Choreo LLC now owns 7,734 shares of the construction company’s stock worth $2,924,000 after purchasing an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In related news, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director directly owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Wayne sold 14,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the sale, the executive vice president directly owned 34,575 shares of the company’s stock, valued at $15,344,730.75. This represents a 28.82% decrease in their position. 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. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PWR. Cantor Fitzgerald began coverage on Quanta Services in a research report on Friday. They issued an “overweight” rating and a $520.00 price target for the company. Argus set a $540.00 price target on Quanta Services in a report on Friday, October 31st. Evercore ISI boosted their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Citigroup raised their target price on shares of Quanta Services from $526.00 to $540.00 and gave the company a “buy” rating in a research note on Monday. Finally, Mizuho set a $415.00 target price on shares of Quanta Services in a research report on Tuesday, October 28th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $462.00.

Quanta Services Stock Up 1.8%

Quanta Services stock opened at $479.27 on Wednesday. The company’s 50-day moving average price is $445.49 and its two-hundred day moving average price is $420.84. 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 has a market cap of $71.47 billion, a P/E ratio of 71.00, a P/E/G ratio of 2.28 and a beta of 1.16. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $483.75.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.24 by $0.09. The company had revenue of $7.63 billion for 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%.The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business 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 EPS for the current year.

Quanta Services 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.