Quanta Services, Inc. $PWR Stock Holdings Lessened by Cerity Partners LLC

Cerity Partners LLC cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.8% during the third quarter, HoldingsChannel.com reports. The firm owned 142,896 shares of the construction company’s stock after selling 1,196 shares during the period. Cerity Partners LLC’s holdings in Quanta Services were worth $59,219,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Freedom Day Solutions LLC acquired a new stake in shares of Quanta Services in the 2nd quarter valued at $2,465,000. Mediolanum International Funds Ltd raised its holdings in Quanta Services by 15.5% during the second quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock valued at $12,642,000 after buying an additional 4,451 shares in the last quarter. Choreo LLC lifted its position in shares of Quanta Services by 4.1% in the second quarter. Choreo LLC now owns 7,734 shares of the construction company’s stock worth $2,924,000 after buying an additional 303 shares during the last quarter. Calamos Advisors LLC boosted its stake in shares of Quanta Services by 17.1% during the 3rd quarter. Calamos Advisors LLC now owns 105,401 shares of the construction company’s stock worth $43,680,000 after acquiring an additional 15,388 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Quanta Services by 59.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 44,392 shares of the construction company’s stock valued at $18,397,000 after acquiring an additional 16,637 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PWR. Sanford C. Bernstein decreased their target price on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Quanta Services in a report on Monday, December 29th. Stifel Nicolaus set a $495.00 target price on shares of Quanta Services in a report on Monday, November 3rd. Roth Capital set a $500.00 price target on shares of Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Robert W. Baird set a $490.00 price target on Quanta Services in a research report on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $450.10.

Insider Transactions at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the transaction, the insider directly owned 19,960 shares in the company, valued at approximately $8,903,756.80. This represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction 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 transaction, the director directly 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 32,002 shares of company stock worth $14,295,857. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

NYSE:PWR opened at $437.40 on Thursday. 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 one year low of $227.08 and a one year high of $473.99. The company has a fifty day moving average price of $442.48 and a 200 day moving average price of $413.19. The stock has a market cap of $65.23 billion, a P/E ratio of 64.80, a PEG ratio of 2.13 and a beta of 1.16.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data 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 net margin of 3.74% and a return on equity of 18.74%. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the firm posted $2.72 EPS. The business’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. Analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Company Profile

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.