Quanta Services, Inc. $PWR Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 22.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 625,891 shares of the construction company’s stock after selling 177,754 shares during the period. First Trust Advisors LP owned about 0.42% of Quanta Services worth $236,637,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Copia Wealth Management boosted its position in shares of Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares during the period. SOA Wealth Advisors LLC. raised its holdings in 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 buying an additional 43 shares during the period. Solstein Capital LLC lifted its stake in Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of Quanta Services in the first quarter worth about $31,000. Finally, Ameriflex Group Inc. increased its position in shares of Quanta Services by 93.0% in the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after acquiring an additional 40 shares in the last quarter. 90.49% of the stock is currently 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 the firm’s 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 in the company, valued at $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Worthing Jackman sold 6,349 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total value of $2,859,907.05. Following the sale, the director owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 over the last quarter. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Up 1.9%

PWR opened at $464.89 on Friday. The company has a market capitalization of $69.32 billion, a PE ratio of 68.87, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $469.43. The business has a 50-day moving average of $438.31 and a 200-day moving average of $398.17.

Quanta Services (NYSE:PWR) last announced its quarterly 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 business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations 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 business posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Quanta Services in a research report on Monday. The Goldman Sachs Group set a $495.00 target price on shares of Quanta Services in a research note on Monday, November 24th. Argus set a $540.00 target price on Quanta Services in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their price target on Quanta Services from $436.00 to $457.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Finally, Jefferies Financial Group increased their price objective on Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $442.32.

About Quanta Services

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.