Quanta Services, Inc. $PWR Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,523 shares of the construction company’s stock after selling 2,311 shares during the quarter. D.A. Davidson & CO.’s holdings in Quanta Services were worth $20,523,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its stake in Quanta Services by 10.0% in the third quarter. CWA Asset Management Group LLC now owns 640 shares of the construction company’s stock worth $265,000 after acquiring an additional 58 shares during the last quarter. OLD Second National Bank of Aurora raised its holdings in shares of Quanta Services by 59.9% in the 3rd quarter. OLD Second National Bank of Aurora now owns 267 shares of the construction company’s stock valued at $111,000 after purchasing an additional 100 shares in the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of Quanta Services during the 3rd quarter worth $447,000. DT Investment Partners LLC grew its stake in shares of Quanta Services by 8.2% during the third quarter. DT Investment Partners LLC now owns 729 shares of the construction company’s stock worth $302,000 after purchasing an additional 55 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Quanta Services by 2.1% in the third quarter. Asset Management One Co. Ltd. now owns 92,910 shares of the construction company’s stock valued at $38,504,000 after buying an additional 1,894 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR stock opened at $439.72 on Monday. The business has a 50 day simple moving average of $442.85 and a 200-day simple moving average of $411.94. The company has a market capitalization of $65.57 billion, a P/E ratio of 65.14, a PEG ratio of 2.14 and a beta of 1.16. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $473.99. 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 released 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. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the firm earned $2.72 EPS. Quanta Services’s revenue for the quarter was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PWR. Citigroup upped their price objective on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. upgraded shares of Quanta Services from a “neutral” rating to an “overweight” rating and increased their price target for the company from $457.00 to $515.00 in a research note on Monday, December 8th. Jefferies Financial Group raised their price objective on shares of Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Stifel Nicolaus set a $495.00 target price on shares of Quanta Services in a report on Monday, November 3rd. Finally, Argus set a $540.00 target price on shares of Quanta Services in a research report on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $450.10.

Insider Buying and Selling at Quanta Services

In related news, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the transaction, the executive vice president owned 34,575 shares of the company’s stock, valued at $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Worthing Jackman sold 6,349 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the sale, the director directly owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. This represents a 69.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services 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.