Quanta Services, Inc. $PWR Shares Sold by ARS Investment Partners LLC

ARS Investment Partners LLC lessened its position in Quanta Services, Inc. (NYSE:PWR) by 17.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 57,420 shares of the construction company’s stock after selling 12,224 shares during the quarter. Quanta Services makes up about 1.6% of ARS Investment Partners LLC’s portfolio, making the stock its 21st largest holding. ARS Investment Partners LLC’s holdings in Quanta Services were worth $23,796,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Old Port Advisors boosted its holdings 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 purchasing an additional 26 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of Quanta Services by 1.2% in the second 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 during the period. Carr Financial Group Corp boosted its position in Quanta Services by 1.8% in the 3rd quarter. Carr Financial Group Corp now owns 1,471 shares of the construction company’s stock valued at $610,000 after buying an additional 26 shares during the period. RiverPark Advisors LLC grew its stake in Quanta Services by 29.3% during the 2nd quarter. RiverPark Advisors LLC now owns 128 shares of the construction company’s stock worth $48,000 after purchasing an additional 29 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its stake in shares of Quanta Services by 0.6% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 5,111 shares of the construction company’s stock worth $2,118,000 after buying an additional 29 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the transaction, the executive vice president owned 34,575 shares in the company, valued at approximately $15,344,730.75. This trade represents a 28.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bernard Fried sold 4,000 shares of the company’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 transaction, the director directly owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 32,002 shares of company stock worth $14,295,857. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR stock opened at $433.58 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The firm has a market capitalization of $64.66 billion, a price-to-earnings ratio of 64.23, a price-to-earnings-growth ratio of 2.47 and a beta of 1.14. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $473.99. The company has a 50 day moving average price of $443.31 and a 200 day moving average price of $408.00.

Quanta Services (NYSE:PWR) last posted 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. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The firm had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter last year, the firm posted $2.72 earnings per share. Quanta Services’s revenue for the quarter 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. Sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Wall Street Analysts Forecast Growth

PWR has been the topic of several research analyst reports. Weiss Ratings lowered shares of Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Evercore ISI lifted their price objective on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Citigroup raised their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research note on Friday, October 31st. The Goldman Sachs Group set a $495.00 target price on shares of Quanta Services in a research report on Monday, November 24th. Finally, Stifel Nicolaus set a $495.00 price target on shares of Quanta Services in a research report on Monday, November 3rd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $450.10.

About Quanta Services

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.