Teacher Retirement System of Texas Sells 3,093 Shares of Quanta Services, Inc. $PWR

Teacher Retirement System of Texas decreased its position in Quanta Services, Inc. (NYSE:PWR) by 13.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,408 shares of the construction company’s stock after selling 3,093 shares during the quarter. Teacher Retirement System of Texas’ holdings in Quanta Services were worth $8,043,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Petros Family Wealth LLC increased its stake in shares of Quanta Services by 2.2% in the 3rd quarter. Petros Family Wealth LLC now owns 1,101 shares of the construction company’s stock worth $456,000 after acquiring an additional 24 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in 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 worth $851,000 after purchasing an additional 26 shares during the period. Carr Financial Group Corp increased its stake in shares of Quanta Services by 1.8% during the third quarter. Carr Financial Group Corp now owns 1,471 shares of the construction company’s stock valued at $610,000 after purchasing an additional 26 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of Quanta Services by 2.8% during the third quarter. Kathmere Capital Management LLC now owns 961 shares of the construction company’s stock valued at $398,000 after purchasing an additional 26 shares during the last quarter. Finally, Archford Capital Strategies LLC grew its stake in shares of Quanta Services by 1.0% in the 3rd quarter. Archford Capital Strategies LLC now owns 2,748 shares of the construction company’s stock worth $1,139,000 after buying an additional 28 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PWR shares. Mizuho set a $415.00 price objective on Quanta Services in a research note on Tuesday, October 28th. Stifel Nicolaus set a $495.00 price target on Quanta Services in a research report on Monday, November 3rd. Argus set a $540.00 price target on shares of Quanta Services in a research note on Friday, October 31st. Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a research note on Friday, October 31st. Finally, Cantor Fitzgerald assumed coverage on shares of Quanta Services in a research note on Friday. They issued an “overweight” rating and a $520.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $460.20.

Insider Transactions at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is currently owned by insiders.

Quanta Services Stock Performance

Shares of PWR stock opened at $468.75 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average price of $443.81 and a 200-day moving average price of $419.53. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $483.29. The firm has a market capitalization of $69.90 billion, a PE ratio of 69.44, a P/E/G ratio of 2.27 and a beta of 1.16.

Quanta Services (NYSE:PWR) last issued its 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 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 analysts’ expectations of $7.41 billion. During the same quarter last year, the company posted $2.72 earnings per share. The firm’s quarterly revenue 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, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current 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.