Sequoia Financial Advisors LLC Purchases 31,521 Shares of Quanta Services, Inc. $PWR

Sequoia Financial Advisors LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 33.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,470 shares of the construction company’s stock after buying an additional 31,521 shares during the quarter. Sequoia Financial Advisors LLC owned approximately 0.08% of Quanta Services worth $52,412,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PWR. Evergreen Capital Management LLC lifted its position in shares of Quanta Services by 13.5% during the third quarter. Evergreen Capital Management LLC now owns 1,626 shares of the construction company’s stock worth $674,000 after purchasing an additional 193 shares during the last quarter. NBT Bank N A NY grew its stake in Quanta Services by 6.0% in the 3rd quarter. NBT Bank N A NY now owns 6,126 shares of the construction company’s stock worth $2,409,000 after acquiring an additional 348 shares in the last quarter. First National Advisers LLC increased its position in shares of Quanta Services by 5.4% during the third quarter. First National Advisers LLC now owns 7,170 shares of the construction company’s stock worth $2,972,000 after acquiring an additional 368 shares during the period. TKG Advisors LLC raised its stake in shares of Quanta Services by 3.5% during the third quarter. TKG Advisors LLC now owns 1,296 shares of the construction company’s stock valued at $537,000 after acquiring an additional 44 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Quanta Services in the third quarter valued at approximately $622,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $466.97 on Friday. The company has a 50 day moving average price of $441.10 and a 200 day moving average price of $416.26. The firm has a market capitalization of $69.63 billion, a P/E ratio of 69.18, a PEG ratio of 2.26 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, Inc. has a 52 week low of $227.08 and a 52 week high of $480.93.

Quanta Services (NYSE:PWR) last issued its quarterly 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. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the business posted $2.72 EPS. Quanta Services’s revenue for the quarter 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. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Insider Transactions at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director directly owned 2,730 shares in the company, valued at $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bernard Fried sold 4,000 shares of Quanta Services 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 of the company’s stock, valued at $5,649,209.67. This trade represents a 24.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PWR. Stifel Nicolaus set a $495.00 target price on Quanta Services in a report on Monday, November 3rd. Truist Financial upped their price objective on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and raised their target price for the company from $457.00 to $515.00 in a research report on Monday, December 8th. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Finally, Sanford C. Bernstein reduced their price objective on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research note on Friday, December 19th. Fourteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $449.57.

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.