Millington Financial Advisors LLC Sells 932 Shares of Quanta Services, Inc. $PWR

Millington Financial Advisors LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 10.7% during the 2nd quarter, Holdings Channel reports. The firm owned 7,777 shares of the construction company’s stock after selling 932 shares during the period. Quanta Services comprises about 1.6% of Millington Financial Advisors LLC’s portfolio, making the stock its 16th biggest holding. Millington Financial Advisors LLC’s holdings in Quanta Services were worth $3,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First National Advisers LLC lifted its stake in Quanta Services by 3.3% in the 2nd quarter. First National Advisers LLC now owns 6,802 shares of the construction company’s stock worth $2,572,000 after purchasing an additional 217 shares in the last quarter. Legacy Capital Wealth Partners LLC grew its stake in shares of Quanta Services by 6.0% in the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,154 shares of the construction company’s stock worth $436,000 after buying an additional 65 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Quanta Services by 9.8% in the 2nd quarter. New York State Common Retirement Fund now owns 126,789 shares of the construction company’s stock worth $47,936,000 after buying an additional 11,350 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Quanta Services by 8.9% during the 2nd quarter. Schroder Investment Management Group now owns 97,602 shares of the construction company’s stock valued at $36,901,000 after buying an additional 8,012 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in Quanta Services by 4.6% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 32,214 shares of the construction company’s stock worth $12,187,000 after acquiring an additional 1,419 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of the company’s 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 completion of the sale, the director owned 12,493 shares in the company, valued at $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s 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 of the company’s stock, valued at approximately $8,903,756.80. The trade was a 27.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 32,002 shares of company stock worth $14,295,857. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Up 1.0%

Shares of NYSE:PWR opened at $464.88 on Friday. The business’s 50 day moving average is $433.50 and its 200 day moving average is $395.36. The stock has a market cap of $69.32 billion, a P/E ratio of 71.96, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $469.43. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR) last issued its 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 business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their price objective on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Citigroup increased their target price on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wall Street Zen cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. TD Cowen upped their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group set a $495.00 target price on Quanta Services in a research report on Monday, November 24th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $442.32.

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.