Corient Private Wealth LLC Has $184.78 Million Stock Holdings in Quanta Services, Inc. $PWR

Corient Private Wealth LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 488,730 shares of the construction company’s stock after purchasing an additional 5,113 shares during the quarter. Corient Private Wealth LLC’s holdings in Quanta Services were worth $184,779,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PWR. Vanguard Group Inc. boosted its position in shares of Quanta Services by 1.9% during the second quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock valued at $6,713,446,000 after buying an additional 339,383 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Quanta Services by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock valued at $2,579,259,000 after purchasing an additional 49,334 shares during the last quarter. State Street Corp lifted its position in shares of Quanta Services by 0.4% during the second quarter. State Street Corp now owns 6,007,287 shares of the construction company’s stock valued at $2,271,235,000 after purchasing an additional 24,669 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Quanta Services by 4.1% during the second quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock worth $1,458,362,000 after purchasing an additional 152,823 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Quanta Services by 57.2% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock worth $917,009,000 after purchasing an additional 882,209 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of Quanta Services stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the completion of the sale, the insider owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Worthing Jackman sold 6,349 shares of the company’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 owned 2,730 shares in the company, valued at $1,229,728.50. This represents a 69.93% 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. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Down 6.3%

Shares of NYSE PWR opened at $437.55 on Monday. 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 company has a market cap of $65.25 billion, a P/E ratio of 64.82, a P/E/G ratio of 2.48 and a beta of 1.14. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $473.99. The business has a 50-day simple moving average of $443.42 and a two-hundred day simple moving average of $404.02.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) 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 company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on PWR. Wall Street Zen cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Jefferies Financial Group lifted their price target on Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. The Goldman Sachs Group set a $495.00 price objective on shares of Quanta Services in a research report on Monday, November 24th. Roth Capital set a $500.00 price target on Quanta Services and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Robert W. Baird set a $490.00 target price on shares of Quanta Services in a research note on Friday, October 31st. Fourteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $449.24.

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.