Baird Financial Group Inc. Sells 5,285 Shares of Quanta Services, Inc. $PWR

Baird Financial Group Inc. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 8.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,307 shares of the construction company’s stock after selling 5,285 shares during the quarter. Baird Financial Group Inc.’s holdings in Quanta Services were worth $21,289,000 as of its most recent filing with the Securities & Exchange Commission.

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

Quanta Services Stock Down 0.9%

Shares of NYSE:PWR opened at $460.84 on Friday. The firm has a market capitalization of $68.72 billion, a PE ratio of 68.27, a price-to-earnings-growth ratio of 2.61 and a beta of 1.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $469.43. The firm has a fifty day moving average of $439.41 and a 200 day moving average of $399.36.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the business posted $2.72 earnings per share. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Insider Transactions at Quanta Services

In related news, Director Worthing Jackman sold 6,349 shares of the business’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 value of $2,859,907.05. Following the completion of the sale, the director owned 2,730 shares in the company, valued at $1,229,728.50. The trade was a 69.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were 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 in the company, valued at $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent analyst reports. Robert W. Baird set a $490.00 price target on shares of Quanta Services in a report on Friday, October 31st. Citigroup increased their target price 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. Truist Financial boosted their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Roth Capital set a $500.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Wall Street Zen lowered Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $446.48.

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.