Texas Permanent School Fund Corp Sells 5,517 Shares of Quanta Services, Inc. $PWR

Texas Permanent School Fund Corp lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 34.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,409 shares of the construction company’s stock after selling 5,517 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Quanta Services were worth $3,935,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Old Port Advisors lifted its position in shares of Quanta Services by 0.7% during the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after buying an additional 26 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in Quanta Services by 1.2% during the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock worth $851,000 after acquiring an additional 26 shares in the last quarter. RiverPark Advisors LLC lifted its holdings in shares of Quanta Services by 29.3% during the second quarter. RiverPark Advisors LLC now owns 128 shares of the construction company’s stock valued at $48,000 after acquiring an additional 29 shares during the period. Snowden Capital Advisors LLC lifted its holdings in shares of Quanta Services by 0.7% during the second quarter. Snowden Capital Advisors LLC now owns 3,986 shares of the construction company’s stock valued at $1,507,000 after acquiring an additional 29 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Quanta Services by 3.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after purchasing an additional 32 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 19,960 shares in the company, valued at $8,903,756.80. This represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction 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 sale, the director directly owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This represents a 24.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,002 shares of company stock worth $14,295,857 over the last quarter. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Up 1.7%

NYSE PWR opened at $421.16 on Friday. The stock has a fifty day moving average of $443.13 and a 200-day moving average of $405.54. The stock has a market capitalization of $62.80 billion, a P/E ratio of 62.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.14. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $473.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $457.00 to $515.00 in a report on Monday, December 8th. Wall Street Zen cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Citigroup increased their price target on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Jefferies Financial Group lifted their price objective on Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Stifel Nicolaus set a $495.00 target price on Quanta Services in a report on Monday, November 3rd. Fourteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $449.24.

Quanta Services Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.