Cerity Partners LLC Grows Stake in Quanta Services, Inc. $PWR

Cerity Partners LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 4.2% during the second quarter, HoldingsChannel.com reports. The firm owned 144,092 shares of the construction company’s stock after buying an additional 5,765 shares during the period. Cerity Partners LLC’s holdings in Quanta Services were worth $54,479,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Copia Wealth Management increased its position in Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares during the last quarter. Solstein Capital LLC increased its holdings in shares of Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Quanta Services in the 1st quarter valued at approximately $31,000. Finally, Ameriflex Group Inc. boosted its stake in Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PWR shares. Citigroup upped their price target on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Argus set a $540.00 target price on Quanta Services in a research report on Friday, October 31st. Robert W. Baird set a $490.00 price target on Quanta Services in a research report on Friday, October 31st. Mizuho set a $415.00 price objective on Quanta Services in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. lifted their target price on Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $446.48.

Insider Activity

In related news, Director Bernard Fried sold 4,000 shares of the 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 sale, the director directly owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’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 sale, the insider owned 19,960 shares in the company, valued at approximately $8,903,756.80. This represents a 27.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Performance

Shares of PWR stock opened at $460.84 on Monday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $469.43. 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 $68.72 billion, a PE ratio of 68.27, a price-to-earnings-growth ratio of 2.62 and a beta of 1.14. The business has a 50-day simple moving average of $439.41 and a 200-day simple moving average of $399.77.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share 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 during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period last year, the business earned $2.72 earnings per share. Quanta Services’s quarterly revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.