HBK Sorce Advisory LLC Invests $721,000 in Quanta Services, Inc. $PWR

HBK Sorce Advisory LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,625 shares of the construction company’s stock, valued at approximately $721,000.

Other large investors also recently added to or reduced their stakes in the company. Old Port Advisors lifted its stake in shares of Quanta Services by 0.7% during the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after buying an additional 26 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of Quanta Services by 1.2% during the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock worth $851,000 after acquiring an additional 26 shares in the last quarter. Carr Financial Group Corp boosted its holdings in shares of Quanta Services by 1.8% in the third quarter. Carr Financial Group Corp now owns 1,471 shares of the construction company’s stock worth $610,000 after acquiring an additional 26 shares during the period. RiverPark Advisors LLC grew its position in shares of Quanta Services by 29.3% in the second quarter. RiverPark Advisors LLC now owns 128 shares of the construction company’s stock valued at $48,000 after purchasing an additional 29 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its stake in shares of Quanta Services by 0.6% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 5,111 shares of the construction company’s stock valued at $2,118,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Quanta Services stock opened at $433.58 on Friday. The firm has a fifty day simple moving average of $443.23 and a two-hundred day simple moving average of $408.18. 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 twelve month low of $227.08 and a twelve month high of $473.99. The company has a market capitalization of $64.66 billion, a PE ratio of 64.23, a P/E/G ratio of 2.46 and a beta of 1.14.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping 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 firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the business earned $2.72 earnings per share. The company’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. Research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PWR. Evercore ISI raised their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. The Goldman Sachs Group set a $495.00 price target on shares of Quanta Services in a report on Monday, November 24th. Argus set a $540.00 price target on shares of Quanta Services in a report on Friday, October 31st. Truist Financial increased their price objective on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Robert W. Baird set a $490.00 target price on Quanta Services in a research report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $450.10.

Insider Buying and Selling

In related news, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction on 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 in the company, valued at $15,344,730.75. This represents a 28.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s 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 directly owned 19,960 shares in the company, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 32,002 shares of company stock worth $14,295,857. Company insiders own 1.10% of the company’s stock.

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.