New York State Common Retirement Fund Has $47.94 Million Stake in Quanta Services, Inc. $PWR

New York State Common Retirement Fund lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 9.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,789 shares of the construction company’s stock after buying an additional 11,350 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of Quanta Services worth $47,936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PWR. Old Port Advisors grew its holdings in Quanta Services by 0.7% during the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after acquiring an additional 26 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in shares of Quanta Services by 1.2% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after purchasing an additional 26 shares in the last quarter. RiverPark Advisors LLC grew its stake in Quanta Services by 29.3% during the second quarter. RiverPark Advisors LLC now owns 128 shares of the construction company’s stock worth $48,000 after purchasing an additional 29 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in Quanta Services by 3.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock worth $242,000 after purchasing an additional 32 shares in the last quarter. Finally, PFG Private Wealth Management LLC lifted its stake in Quanta Services by 4.1% in the second quarter. PFG Private Wealth Management LLC now owns 808 shares of the construction company’s stock valued at $305,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 1.0%

NYSE:PWR opened at $464.88 on Friday. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $469.43. The company has a market cap of $69.32 billion, a PE ratio of 71.96, a PEG ratio of 2.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The firm has a 50-day moving average of $433.50 and a 200-day moving average of $395.36.

Quanta Services (NYSE:PWR) last released its quarterly 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 business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Ratings Changes

PWR has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Roth Capital set a $500.00 price target on shares of Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Evercore ISI increased their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Weiss Ratings upgraded Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Truist Financial upped their price target on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $442.32.

Insider Buying and Selling

In other news, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the sale, the executive vice president owned 34,575 shares in the company, valued at $15,344,730.75. This represents a 28.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director directly owned 2,730 shares in the company, valued at $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by corporate insiders.

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.