Insider Selling: Quanta Services (NYSE:PWR) Director Sells 6,349 Shares of Stock

Quanta Services, Inc. (NYSE:PWR) Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Quanta Services Price Performance

Shares of PWR traded up $2.42 during trading hours on Friday, hitting $445.32. 818,189 shares of the company were exchanged, compared to its average volume of 1,303,024. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The company has a market capitalization of $66.40 billion, a PE ratio of 68.93, a PEG ratio of 2.66 and a beta of 1.10. The firm has a fifty day simple moving average of $413.20 and a 200-day simple moving average of $379.26. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $469.43.

Quanta Services (NYSE:PWR) last announced its 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 business 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 18.41% and a net margin of 3.73%.Quanta Services’s revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 5.93%.

Hedge Funds Weigh In On Quanta Services

Hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in shares of Quanta Services during the 4th quarter worth about $298,000. Mutual Advisors LLC increased its position in Quanta Services by 21.3% in the 1st quarter. Mutual Advisors LLC now owns 975 shares of the construction company’s stock worth $248,000 after buying an additional 171 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of Quanta Services by 5.4% during the first quarter. OneDigital Investment Advisors LLC now owns 1,338 shares of the construction company’s stock worth $340,000 after buying an additional 68 shares during the last quarter. World Investment Advisors boosted its position in shares of Quanta Services by 13.8% in the first quarter. World Investment Advisors now owns 824 shares of the construction company’s stock valued at $209,000 after acquiring an additional 100 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Quanta Services by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 201,838 shares of the construction company’s stock valued at $51,303,000 after purchasing an additional 15,145 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PWR. Mizuho set a $415.00 price target on shares of Quanta Services in a report on Tuesday, October 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Quanta Services in a report on Wednesday, October 8th. Roth Capital set a $500.00 price target on Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. DA Davidson upped their price target on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Finally, Seaport Res Ptn raised Quanta Services to a “hold” rating in a research note on Thursday, July 10th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $438.64.

About Quanta Services

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.