Avestar Capital LLC Decreases Stock Position in Quanta Services, Inc. $PWR

Avestar Capital LLC lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 31.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,688 shares of the construction company’s stock after selling 1,229 shares during the period. Avestar Capital LLC’s holdings in Quanta Services were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Quanta Services by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock valued at $6,713,446,000 after buying an additional 339,383 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Quanta Services by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock valued at $2,579,259,000 after acquiring an additional 49,334 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Quanta Services by 4.1% in the second quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock valued at $1,458,362,000 after purchasing an additional 152,823 shares in the last quarter. Norges Bank bought a new stake in Quanta Services in the second quarter worth $675,802,000. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Quanta Services during the second quarter valued at $650,960,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Down 0.9%

PWR stock opened at $460.84 on Friday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $469.43. The firm’s 50-day moving average is $439.41 and its 200 day moving average is $399.36. The company has a market capitalization of $68.72 billion, a PE ratio of 68.27, a P/E/G ratio of 2.61 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 (NYSE:PWR) last issued its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The business had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on PWR shares. Citigroup lifted their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Stifel Nicolaus set a $495.00 price target on Quanta Services in a research report on Monday, November 3rd. Robert W. Baird set a $490.00 price objective on Quanta Services in a research report on Friday, October 31st. Roth Capital set a $500.00 price objective on Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Quanta Services in a research report on Monday, December 1st. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $446.48.

Insider Transactions at Quanta Services

In other news, Director Bernard Fried sold 4,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the transaction, the director owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. This represents a 24.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction dated 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 of the company’s stock, valued at $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 32,002 shares of company stock worth $14,295,857 in the last ninety days. 1.10% of the stock is owned by company insiders.

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.