Quanta Services, Inc. $PWR Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 12.0% in the third quarter, Holdings Channel.com reports. The fund owned 60,516 shares of the construction company’s stock after selling 8,216 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Quanta Services were worth $25,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PWR. Brighton Jones LLC acquired a new position in Quanta Services in the 4th quarter valued at $298,000. Woodline Partners LP raised its position in shares of Quanta Services by 40.7% in the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after buying an additional 3,606 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Quanta Services by 12.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 690 shares of the construction company’s stock worth $261,000 after buying an additional 74 shares in the last quarter. Aaron Wealth Advisors LLC purchased a new position in shares of Quanta Services in the second quarter worth about $257,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Quanta Services by 15.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 46,816 shares of the construction company’s stock worth $17,700,000 after acquiring an additional 6,225 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the business’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. The trade was a 69.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 12,493 shares of the company’s stock, valued at $5,649,209.67. The trade was a 24.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by corporate insiders.

Quanta Services Trading Up 4.3%

Shares of Quanta Services stock opened at $466.97 on Friday. The stock has a 50 day moving average of $441.10 and a 200 day moving average of $415.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The firm has a market capitalization of $69.63 billion, a price-to-earnings ratio of 69.18, a PEG ratio of 2.17 and a beta of 1.16. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $480.93.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 18.74% and a net margin of 3.74%.The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PWR. Sanford C. Bernstein cut 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 report on Friday, December 19th. Roth Capital set a $500.00 price target on Quanta Services and gave the company a “buy” rating in a research report on Friday, October 31st. Mizuho set a $415.00 price objective on Quanta Services in a research report on Tuesday, October 28th. JPMorgan Chase & Co. raised Quanta Services from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $457.00 to $515.00 in a research note on Monday, December 8th. Finally, Robert W. Baird set a $490.00 target price on Quanta Services in a research note on Friday, October 31st. Fourteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $449.57.

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.