Osaic Holdings Inc. Buys 5,958 Shares of Quanta Services, Inc. $PWR

Osaic Holdings Inc. raised its stake in Quanta Services, Inc. (NYSE:PWR) by 17.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 39,908 shares of the construction company’s stock after buying an additional 5,958 shares during the quarter. Osaic Holdings Inc.’s holdings in Quanta Services were worth $15,090,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Copia Wealth Management raised its stake in 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 purchasing an additional 56 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Quanta Services in the 2nd quarter valued at about $26,000. SOA Wealth Advisors LLC. lifted its holdings in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares during the period. Solstein Capital LLC boosted its position in shares of Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. Finally, Ameriflex Group Inc. increased its stake in Quanta Services by 93.0% in the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after acquiring an additional 40 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of Quanta Services stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Worthing Jackman sold 6,349 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 in the last three months. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PWR has been the subject of several recent analyst reports. Roth Capital set a $500.00 target price on Quanta Services and gave the stock 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 upped their price objective for the stock from $457.00 to $515.00 in a research report on Monday, December 8th. Jefferies Financial Group lifted their target price on Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. The Goldman Sachs Group set a $495.00 target price on shares of Quanta Services in a report on Monday, November 24th. Finally, Mizuho set a $415.00 price target on shares of Quanta Services in a report on Tuesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $449.24.

Quanta Services Stock Performance

NYSE:PWR opened at $421.16 on Friday. The stock’s 50-day moving average is $443.13 and its 200-day moving average is $405.54. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $473.99. 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 stock has a market cap of $62.80 billion, a P/E ratio of 62.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.14.

Quanta Services (NYSE:PWR) last posted its 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. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The business had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the company earned $2.72 EPS. The firm’s revenue 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. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Company Profile

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.