Praxis Investment Management Inc. Purchases 1,528 Shares of Quanta Services, Inc. $PWR

Praxis Investment Management Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 95.5% in the third quarter, HoldingsChannel reports. The firm owned 3,128 shares of the construction company’s stock after buying an additional 1,528 shares during the period. Praxis Investment Management Inc.’s holdings in Quanta Services were worth $1,296,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Quanta Services during the 2nd quarter worth approximately $675,802,000. Kingstone Capital Partners Texas LLC acquired a new stake in Quanta Services during the 2nd quarter valued at $650,960,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Quanta Services by 57.2% during the second 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 during the period. Amundi increased its holdings in shares of Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after purchasing an additional 788,079 shares during the last quarter. Finally, Select Equity Group L.P. raised its position 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 valued at $384,554,000 after purchasing an additional 416,395 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PWR shares. Truist Financial upped their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Citigroup boosted their price objective on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a report on Friday, October 31st. 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. Evercore ISI boosted their price target on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, Stifel Nicolaus set a $495.00 price objective on Quanta Services in a research report on Monday, November 3rd. Fourteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $449.24.

Insiders Place Their Bets

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of Quanta Services stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the sale, 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 document filed with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. This represents a 69.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Down 6.3%

Shares of NYSE PWR opened at $437.55 on Monday. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $473.99. The stock’s fifty day moving average is $443.42 and its 200 day moving average is $404.02. 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 $65.25 billion, a P/E ratio of 64.82, a PEG ratio of 2.48 and a beta of 1.14.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.24 by $0.09. The firm had revenue of $7.63 billion for 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 quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal 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.