Investment House LLC Sells 5,031 Shares of Quanta Services, Inc. $PWR

Investment House LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 58.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,546 shares of the construction company’s stock after selling 5,031 shares during the quarter. Investment House LLC’s holdings in Quanta Services were worth $1,470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PWR. Petros Family Wealth LLC raised its position in shares of Quanta Services by 2.2% during the third quarter. Petros Family Wealth LLC now owns 1,101 shares of the construction company’s stock valued at $456,000 after buying an additional 24 shares during the last quarter. Old Port Advisors increased its holdings in Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after acquiring an additional 26 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in Quanta Services by 1.2% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after acquiring an additional 26 shares during the last quarter. Carr Financial Group Corp lifted its stake in Quanta Services by 1.8% in the 3rd quarter. Carr Financial Group Corp now owns 1,471 shares of the construction company’s stock worth $610,000 after purchasing an additional 26 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its holdings in shares of Quanta Services by 2.8% during the 3rd 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. 90.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Quanta Services news, Director Worthing Jackman sold 6,349 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total value of $2,859,907.05. Following the transaction, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This represents a 69.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the sale, the executive vice president owned 34,575 shares of the company’s stock, valued at $15,344,730.75. The trade was a 28.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,002 shares of company stock worth $14,295,857 in the last 90 days. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Truist Financial lifted their target price on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Mizuho set a $415.00 price objective on Quanta Services in a report on Tuesday, October 28th. Jefferies Financial Group cut 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. Argus set a $540.00 price target on shares of Quanta Services in a research report on Friday, October 31st. Finally, Sanford C. Bernstein lowered their price objective on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research report on Friday, December 19th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $460.20.

Quanta Services Trading Down 0.0%

Shares of PWR opened at $468.75 on Friday. The company’s fifty day simple moving average is $443.81 and its 200-day simple moving average is $419.27. The company has a market cap of $69.90 billion, a P/E ratio of 69.44, a P/E/G ratio of 2.27 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, Inc. has a twelve month low of $227.08 and a twelve month high of $483.29.

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

Quanta Services Company 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.