Capital Investment Services of America Inc. Takes Position in Quanta Services, Inc. $PWR

Capital Investment Services of America Inc. purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,582 shares of the construction company’s stock, valued at approximately $6,457,000.

A number of other institutional investors have also added to or reduced their stakes in PWR. Foundations Investment Advisors LLC boosted its holdings in shares of Quanta Services by 108.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 2,499 shares of the construction company’s stock valued at $1,036,000 after buying an additional 1,298 shares in the last quarter. Hollencrest Capital Management boosted its stake in Quanta Services by 457.0% during the third quarter. Hollencrest Capital Management now owns 2,295 shares of the construction company’s stock worth $951,000 after acquiring an additional 1,883 shares in the last quarter. GPS Wealth Strategies Group LLC purchased a new stake in Quanta Services in the third quarter worth about $38,000. AE Wealth Management LLC increased its stake in shares of Quanta Services by 7.5% during the third quarter. AE Wealth Management LLC now owns 999 shares of the construction company’s stock valued at $414,000 after purchasing an additional 70 shares in the last quarter. Finally, Absolute Capital Management LLC lifted its holdings in shares of Quanta Services by 146.7% during the third quarter. Absolute Capital Management LLC now owns 3,700 shares of the construction company’s stock valued at $1,533,000 after purchasing an additional 2,200 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction that occurred on 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 sale, the director owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction on 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 transaction, the insider directly owned 19,960 shares in the company, valued at $8,903,756.80. The trade was a 27.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 32,002 shares of company stock worth $14,295,857. Company insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

PWR opened at $482.74 on Friday. The company’s 50-day simple moving average is $447.27 and its two-hundred day simple moving average is $421.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a market capitalization of $71.99 billion, a P/E ratio of 71.52, a P/E/G ratio of 2.34 and a beta of 1.16. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $489.06.

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

Analysts Set New Price Targets

Several analysts recently weighed in on PWR shares. Argus set a $540.00 price target on Quanta Services in a research note on Friday, October 31st. Truist Financial raised their price target on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Citigroup upped their price target on shares of Quanta Services from $526.00 to $540.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group reduced their price objective on shares of Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Finally, Weiss Ratings raised shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $462.00.

Quanta Services Company 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.