Quanta Services, Inc. $PWR Shares Sold by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 11.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,380 shares of the construction company’s stock after selling 1,327 shares during the period. EFG Asset Management North America Corp.’s holdings in Quanta Services were worth $4,303,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Freedom Day Solutions LLC purchased a new stake in Quanta Services in the 2nd quarter worth $2,465,000. Mediolanum International Funds Ltd increased its stake in shares of Quanta Services by 15.5% during the second quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock worth $12,642,000 after purchasing an additional 4,451 shares in the last quarter. Calamos Advisors LLC increased its stake in shares of Quanta Services by 17.1% during the third quarter. Calamos Advisors LLC now owns 105,401 shares of the construction company’s stock worth $43,680,000 after purchasing an additional 15,388 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Quanta Services by 59.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 44,392 shares of the construction company’s stock valued at $18,397,000 after buying an additional 16,637 shares in the last quarter. Finally, Brookstone Capital Management lifted its stake in Quanta Services by 10.3% in the 3rd quarter. Brookstone Capital Management now owns 34,932 shares of the construction company’s stock valued at $14,477,000 after buying an additional 3,254 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Up 0.4%

Shares of PWR opened at $470.58 on Tuesday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $483.29. The firm has a market capitalization of $70.17 billion, a P/E ratio of 69.72, a P/E/G ratio of 2.27 and a beta of 1.16. The firm has a 50-day moving average price of $444.69 and a 200 day moving average price of $420.17. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.09. The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. Quanta Services’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Insiders Place Their Bets

In other Quanta Services news, 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 transaction of $2,859,907.05. Following the completion of the sale, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were 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 trade represents a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,002 shares of company stock worth $14,295,857 in the last three months. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PWR shares. JPMorgan Chase & Co. raised Quanta Services from a “neutral” rating to an “overweight” rating and increased their target price for the company from $457.00 to $515.00 in a report on Monday, December 8th. Sanford C. Bernstein reduced their price objective on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research note on Friday, December 19th. Truist Financial raised their price objective on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Jefferies Financial Group dropped their target price on shares of Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. Finally, Cantor Fitzgerald began coverage on shares of Quanta Services in a research report on Friday. They issued an “overweight” rating and a $520.00 target price for the company. Thirteen investment 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, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $462.00.

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.