Lmcg Investments LLC Sells 1,532 Shares of Quanta Services, Inc. $PWR

Lmcg Investments LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,642 shares of the construction company’s stock after selling 1,532 shares during the quarter. Quanta Services accounts for approximately 1.1% of Lmcg Investments LLC’s portfolio, making the stock its 23rd largest position. Lmcg Investments LLC’s holdings in Quanta Services were worth $18,086,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC bought a new stake in Quanta Services in the 4th quarter valued at about $298,000. Woodline Partners LP raised its position in shares of Quanta Services by 40.7% during the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock worth $3,170,000 after purchasing an additional 3,606 shares during the period. Aaron Wealth Advisors LLC acquired a new stake in Quanta Services in the 2nd quarter valued at $257,000. Wealth Enhancement Advisory Services LLC increased its stake in Quanta Services by 0.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 69,118 shares of the construction company’s stock valued at $26,715,000 after purchasing an additional 348 shares in the last quarter. Finally, YHB Investment Advisors Inc. raised its holdings in Quanta Services by 2.0% during the second quarter. YHB Investment Advisors Inc. now owns 1,919 shares of the construction company’s stock worth $726,000 after buying an additional 38 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PWR shares. The Goldman Sachs Group set a $495.00 target price on shares of Quanta Services in a research report on Monday, November 24th. Argus set a $540.00 price objective on Quanta Services in a report on Friday, October 31st. Evercore ISI lifted their target price on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Robert W. Baird set a $490.00 price objective on Quanta Services in a research note on Friday, October 31st. Finally, Truist Financial raised their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $449.57.

Quanta Services Trading Up 4.3%

NYSE:PWR opened at $466.97 on Friday. The firm’s 50 day moving average is $441.10 and its 200 day moving average is $416.26. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $480.93. The stock has a market capitalization of $69.63 billion, a PE ratio of 69.18, a price-to-earnings-growth ratio of 2.26 and a beta of 1.16. 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 quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.09. The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Insider Buying and Selling at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of Quanta Services 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. The trade was a 27.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Wayne sold 14,000 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the sale, the executive vice president owned 34,575 shares in the company, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,002 shares of company stock valued at $14,295,857 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

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.