Quanta Services, Inc. $PWR Shares Purchased by Next Century Growth Investors LLC

Next Century Growth Investors LLC raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 25.7% during the second quarter, Holdings Channel.com reports. The firm owned 8,790 shares of the construction company’s stock after purchasing an additional 1,799 shares during the quarter. Next Century Growth Investors LLC’s holdings in Quanta Services were worth $3,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PWR. Norges Bank purchased a new position in Quanta Services in the second quarter worth $675,802,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Quanta Services in the second quarter valued at about $650,960,000. Amundi boosted its holdings in Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after buying an additional 788,079 shares in the last quarter. Swedbank AB increased its holdings in Quanta Services by 50.5% in the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock valued at $304,269,000 after buying an additional 401,418 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Quanta Services by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock valued at $6,713,446,000 after acquiring an additional 339,383 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

PWR stock opened at $458.29 on Wednesday. The stock has a market capitalization of $68.34 billion, a price-to-earnings ratio of 67.89, a price-to-earnings-growth ratio of 2.63 and a beta of 1.14. The stock’s fifty day simple moving average is $441.36 and its 200-day simple moving average is $401.56. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $473.99. 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 (NYSE:PWR) last released 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. The firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. This represents a 28.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of the 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 in the company, valued at $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,002 shares of company stock valued at $14,295,857 in the last ninety days. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Robert W. Baird set a $490.00 price target on Quanta Services in a report on Friday, October 31st. Wall Street Zen cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Mizuho set a $415.00 target price on shares of Quanta Services in a research report on Tuesday, October 28th. Stifel Nicolaus set a $495.00 price objective on Quanta Services in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Quanta Services in a report on Monday. Fourteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $449.24.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.