Seelaus Asset Management LLC Makes New $899,000 Investment in Quanta Services, Inc. $PWR

Seelaus Asset Management LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,170 shares of the construction company’s stock, valued at approximately $899,000.

Several other hedge funds have also recently made changes to their positions in PWR. Norges Bank bought a new stake in shares of Quanta Services during the 2nd quarter valued at $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Quanta Services by 57.2% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock worth $917,009,000 after purchasing an additional 882,209 shares in the last quarter. Select Equity Group L.P. increased its holdings in shares of Quanta Services by 69.3% in the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock worth $384,554,000 after purchasing an additional 416,395 shares during the period. Vanguard Group Inc. increased its position in shares of Quanta Services by 1.9% in the second quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after purchasing an additional 339,383 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Quanta Services by 150.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company’s stock worth $156,026,000 after acquiring an additional 251,845 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Shares of PWR stock traded down $0.03 on Friday, reaching $468.75. The company’s stock had a trading volume of 761,511 shares, compared to its average volume of 820,552. The stock’s fifty day simple moving average is $443.81 and its 200-day simple moving average is $418.98. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $483.29. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $69.90 billion, a price-to-earnings ratio of 69.44, a price-to-earnings-growth ratio of 2.27 and a beta of 1.16.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.24 by $0.09. The company had revenue of $7.63 billion during 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 revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PWR has been the subject of a number of research reports. Roth Mkm set a $500.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. upgraded Quanta Services from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $457.00 to $515.00 in a research report on Monday, December 8th. Citigroup lifted their price objective on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Mizuho set a $415.00 price target on shares of Quanta Services in a research note on Tuesday, October 28th. Finally, Robert W. Baird set a $490.00 target price on Quanta Services in a report on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $460.20.

Insider Activity at Quanta Services

In related news, Director Bernard Fried sold 4,000 shares of the firm’s 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 transaction, the director directly owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. This trade represents a 24.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 19,960 shares in the company, valued at $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 32,002 shares of company stock valued at $14,295,857. Company insiders own 1.10% of the company’s stock.

About Quanta Services

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.