Advisory Services Network LLC Reduces Position in Quanta Services, Inc. $PWR

Advisory Services Network LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 24.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,022 shares of the construction company’s stock after selling 7,608 shares during the quarter. Advisory Services Network LLC’s holdings in Quanta Services were worth $9,350,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PWR. Vanguard Group Inc. grew its stake in Quanta Services by 1.9% in 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. grew its position in shares of Quanta Services by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock valued at $2,579,259,000 after purchasing an additional 49,334 shares in the last quarter. State Street Corp raised its stake in shares of Quanta Services by 0.4% during the 2nd quarter. State Street Corp now owns 6,007,287 shares of the construction company’s stock valued at $2,271,235,000 after purchasing an additional 24,669 shares during the period. Geode Capital Management LLC lifted its holdings in Quanta Services by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock worth $1,458,362,000 after purchasing an additional 152,823 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Quanta Services by 57.2% in the 2nd 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. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Down 6.3%

Shares of NYSE:PWR opened at $437.55 on Monday. The firm has a market capitalization of $65.25 billion, a PE ratio of 64.82, a price-to-earnings-growth ratio of 2.48 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 $473.99. The firm has a fifty day moving average of $443.42 and a 200 day moving average of $404.02.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the company posted $2.72 earnings per share. The company’s revenue was up 17.5% compared to the same quarter last year. 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 other news, Director Bernard Fried sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total value of $1,808,760.00. Following the completion of the sale, the director directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of the stock in a transaction on 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 approximately $1,229,728.50. This represents a 69.93% decrease in their position. 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PWR shares. Truist Financial increased their price target on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Mizuho set a $415.00 target price on shares of Quanta Services in a research note on Tuesday, October 28th. Argus set a $540.00 price target on shares of Quanta Services in a research report on Friday, October 31st. The Goldman Sachs Group set a $495.00 price objective on Quanta Services in a research report on Monday, November 24th. Finally, Robert W. Baird set a $490.00 target price on Quanta Services in a research report on Friday, October 31st. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $449.24.

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.