15,582 Shares in Quanta Services, Inc. $PWR Acquired by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,582 shares of the construction company’s stock, valued at approximately $6,457,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PWR. Copia Wealth Management increased its stake in 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 acquiring an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Quanta Services during the 2nd quarter valued at about $26,000. Activest Wealth Management raised its holdings in shares of Quanta Services by 94.1% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after buying an additional 32 shares in the last quarter. Finally, Solstein Capital LLC lifted its position in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR stock opened at $482.74 on Friday. The stock has a market capitalization of $71.99 billion, a price-to-earnings ratio of 71.52, a PEG ratio of 2.34 and a beta of 1.16. The firm’s 50-day moving average price is $447.27 and its two-hundred day moving average price is $421.70. 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, Inc. has a 12-month low of $227.08 and a 12-month high of $489.06.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The company had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the business posted $2.72 earnings per share. Quanta Services’s revenue for the quarter was up 17.5% on a year-over-year basis. As a group, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analysts Set New Price Targets

PWR has been the topic of a number of recent research reports. Robert W. Baird set a $490.00 price target on shares of Quanta Services in a research report on Friday, October 31st. Sanford C. Bernstein cut their price objective on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research note on Friday, December 19th. Citigroup lifted their target price on shares of Quanta Services from $526.00 to $540.00 and gave the stock a “buy” rating in a research report on Monday. Cantor Fitzgerald started coverage on shares of Quanta Services in a research report on Friday, January 23rd. They set an “overweight” rating and a $520.00 price target for the company. Finally, Truist Financial raised their price objective on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $462.00.

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 14,000 shares of the business’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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,002 shares of company stock valued at $14,295,857 in the last 90 days. 1.10% of the stock is 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.