Exchange Traded Concepts LLC Grows Position in Quanta Services, Inc. $PWR

Exchange Traded Concepts LLC raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 59.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,392 shares of the construction company’s stock after acquiring an additional 16,637 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Quanta Services were worth $18,397,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Copia Wealth Management lifted its stake in shares of Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Quanta Services in the second quarter valued at approximately $26,000. SOA Wealth Advisors LLC. boosted its holdings 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 purchasing an additional 43 shares during the last quarter. Solstein Capital LLC increased its stake in shares of Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Quanta Services in the 1st quarter valued at $31,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction on 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 in the company, valued at $1,229,728.50. The trade was a 69.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the sale, the executive vice president directly owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 32,002 shares of company stock worth $14,295,857. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $433.08 on Tuesday. The stock has a market cap of $64.58 billion, a PE ratio of 64.16, a price-to-earnings-growth ratio of 2.42 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 company’s 50-day moving average price is $443.34 and its two-hundred day moving average price is $407.30. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the company posted $2.72 EPS. Quanta Services’s revenue for the quarter was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PWR. JPMorgan Chase & Co. upgraded Quanta Services from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $457.00 to $515.00 in a report on Monday, December 8th. Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Sanford C. Bernstein decreased their price target on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research report on Friday. Mizuho set a $415.00 price target on Quanta Services in a research report on Tuesday, October 28th. Finally, Robert W. Baird set a $490.00 target price on Quanta Services in a report 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.