Geneos Wealth Management Inc. Reduces Stake in Quanta Services, Inc. $PWR

Geneos Wealth Management Inc. reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 95.7% in the third quarter, Holdings Channel reports. The fund owned 210 shares of the construction company’s stock after selling 4,657 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Quanta Services were worth $87,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Petros Family Wealth LLC raised its stake in shares of Quanta Services by 2.2% in the third quarter. Petros Family Wealth LLC now owns 1,101 shares of the construction company’s stock valued at $456,000 after buying an additional 24 shares during the period. Old Port Advisors increased its holdings in Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after acquiring an additional 26 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its stake in Quanta Services by 1.2% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after acquiring an additional 26 shares during the period. Carr Financial Group Corp raised its stake in Quanta Services by 1.8% in the 3rd quarter. Carr Financial Group Corp now owns 1,471 shares of the construction company’s stock valued at $610,000 after acquiring an additional 26 shares during the period. Finally, Archford Capital Strategies LLC boosted its position in Quanta Services by 1.0% during the third quarter. Archford Capital Strategies LLC now owns 2,748 shares of the construction company’s stock worth $1,139,000 after purchasing an additional 28 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Quanta Services in a report on Monday, December 29th. JPMorgan Chase & Co. raised Quanta Services from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $457.00 to $515.00 in a report on Monday, December 8th. Stifel Nicolaus set a $495.00 price objective on Quanta Services in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group set a $495.00 target price on Quanta Services in a research note on Monday, November 24th. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $450.10.

Quanta Services Price Performance

Quanta Services stock opened at $432.91 on Tuesday. The stock has a market cap of $64.56 billion, a price-to-earnings ratio of 64.13, a PEG ratio of 2.05 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. The business has a 50-day simple moving average of $440.79 and a 200 day simple moving average of $414.52. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $473.99.

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 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 analysts’ expectations of $7.41 billion. During the same quarter last year, the firm posted $2.72 EPS. The company’s revenue 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. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Insider Activity at Quanta Services

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 value of $6,213,340.00. Following the completion of the transaction, the executive vice president directly owned 34,575 shares in the company, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the sale, the insider owned 19,960 shares in the company, valued at $8,903,756.80. The trade was a 27.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,002 shares of company stock worth $14,295,857 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services 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.