ZEGA Investments LLC Reduces Holdings in Quanta Services, Inc. $PWR

ZEGA Investments LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 33.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,798 shares of the construction company’s stock after selling 1,420 shares during the quarter. ZEGA Investments LLC’s holdings in Quanta Services were worth $1,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Copia Wealth Management increased its position 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 acquiring an additional 56 shares during the period. SOA Wealth Advisors LLC. increased its holdings in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Darwin Wealth Management LLC bought a new position in Quanta Services during the 2nd quarter valued at approximately $26,000. Solstein Capital LLC lifted its holdings 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 period. Finally, Ameriflex Group Inc. grew its position in shares of Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after buying an additional 40 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling 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 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 directly owned 2,730 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $452.19, for a total value of $1,808,760.00. Following the completion of the transaction, the director owned 12,493 shares in the company, valued at $5,649,209.67. This trade represents a 24.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Up 2.4%

Shares of NYSE PWR opened at $432.91 on Tuesday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $473.99. The firm has a market capitalization 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 stock has a 50 day moving average price of $440.79 and a 200 day moving average price of $414.52. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share 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 business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the prior year, the business earned $2.72 EPS. The business’s revenue for the quarter 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. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Mizuho set a $415.00 price target on Quanta Services in a research note on Tuesday, October 28th. Robert W. Baird set a $490.00 target price on shares of Quanta Services in a research report on Friday, October 31st. Roth Capital set a $500.00 price target on shares of Quanta Services and gave the company a “buy” rating in a research report on Friday, October 31st. The Goldman Sachs Group set a $495.00 price objective on shares of Quanta Services in a report on Monday, November 24th. Finally, Citigroup increased their target price on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $450.10.

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.