Hollencrest Capital Management Purchases 1,883 Shares of Quanta Services, Inc. $PWR

Hollencrest Capital Management boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 457.0% in the third quarter, Holdings Channel.com reports. The fund owned 2,295 shares of the construction company’s stock after acquiring an additional 1,883 shares during the quarter. Hollencrest Capital Management’s holdings in Quanta Services were worth $951,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Copia Wealth Management raised its holdings 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 in the last quarter. SOA Wealth Advisors LLC. grew its holdings in Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Quanta Services in the second quarter valued at about $26,000. Activest Wealth Management boosted its stake in Quanta Services by 94.1% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 32 shares in the last quarter. Finally, Solstein Capital LLC lifted its stake in shares of Quanta Services by 185.7% during the second 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. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quanta Services

In related news, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the sale, the director directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a 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 business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the transaction, the insider owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. The trade was a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Stock Up 0.5%

Shares of PWR opened at $481.55 on Thursday. The company’s 50-day moving average price is $446.21 and its 200 day moving average price is $421.27. 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 $487.00. The firm has a market cap of $71.81 billion, a P/E ratio of 71.34, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Mizuho set a $415.00 target price on Quanta Services in a report on Tuesday, October 28th. Truist Financial lifted their price objective on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Jefferies Financial Group cut their price objective on Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Sanford C. Bernstein cut their target price 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. Finally, Cantor Fitzgerald assumed coverage on Quanta Services in a research note on Friday, January 23rd. They issued an “overweight” rating and a $520.00 price objective for the company. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $462.00.

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.