Nordea Investment Management AB Sells 16,100 Shares of Quanta Services, Inc. $PWR

Nordea Investment Management AB trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 623,162 shares of the construction company’s stock after selling 16,100 shares during the quarter. Nordea Investment Management AB owned about 0.42% of Quanta Services worth $257,223,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Copia Wealth Management increased its position in shares of Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after purchasing an additional 56 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of Quanta Services in the 2nd quarter worth $26,000. SOA Wealth Advisors LLC. raised its position in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after buying an additional 43 shares in the last quarter. Solstein Capital LLC lifted its holdings in shares of Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares during the last quarter. Finally, Ameriflex Group Inc. grew its position in Quanta Services by 93.0% in the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 2.6%

Shares of Quanta Services stock opened at $443.97 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $473.99. The company’s 50 day moving average price is $440.90 and its 200-day moving average price is $414.96. The stock has a market capitalization of $66.20 billion, a price-to-earnings ratio of 65.77, a P/E/G ratio of 2.10 and a beta of 1.16.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share 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 business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the prior year, the company posted $2.72 EPS. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the sale, the executive vice president directly owned 34,575 shares in the company, valued at approximately $15,344,730.75. This trade represents a 28.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the transaction, the insider owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. This represents a 27.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,002 shares of company stock valued at $14,295,857 over the last three months. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. The Goldman Sachs Group set a $495.00 target price on Quanta Services in a research report on Monday, November 24th. Mizuho set a $415.00 price target on shares of Quanta Services in a research report on Tuesday, October 28th. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $457.00 to $515.00 in a research note on Monday, December 8th. Finally, Evercore ISI increased their target price on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Fourteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $450.10.

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.