Envestnet Portfolio Solutions Inc. Has $3.75 Million Holdings in Quanta Services, Inc. $PWR

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 25.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,038 shares of the construction company’s stock after selling 3,057 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Quanta Services were worth $3,746,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Copia Wealth Management lifted its position in Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. raised its holdings in Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Quanta Services during the second quarter valued at approximately $26,000. Solstein Capital LLC grew its stake in Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Finally, Ameriflex Group Inc. raised its stake in shares of Quanta Services by 93.0% during the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after purchasing an additional 40 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PWR. Roth Mkm set a $500.00 target price on shares of Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Cantor Fitzgerald initiated coverage on shares of Quanta Services in a research report on Friday. They issued an “overweight” rating and a $520.00 price objective for the company. Citigroup upped their target price on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a report on Friday, October 31st. Truist Financial lifted their price target on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $495.00 price objective on Quanta Services in a research report on Monday, November 24th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $460.20.

Insider Buying and Selling

In other 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 transaction of $3,413,850.24. Following the transaction, the insider owned 19,960 shares of the company’s stock, valued at $8,903,756.80. This represents a 27.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction dated 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 $5,649,209.67. This represents a 24.25% decrease in their position. 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. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $468.75 on Monday. 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 $483.29. The company has a market cap of $69.90 billion, a price-to-earnings ratio of 69.44, a PEG ratio of 2.27 and a beta of 1.16. The firm has a 50 day simple moving average of $443.81 and a 200 day simple moving average of $419.53.

Quanta Services (NYSE:PWR) last issued its quarterly 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. 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 analyst estimates of $7.41 billion. During the same quarter in the previous year, the business earned $2.72 earnings per share. Quanta Services’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. Research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services 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.