Avestar Capital LLC Sells 1,229 Shares of Quanta Services, Inc. $PWR

Avestar Capital LLC decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 31.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,688 shares of the construction company’s stock after selling 1,229 shares during the quarter. Avestar Capital LLC’s holdings in Quanta Services were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PWR. Copia Wealth Management boosted its stake in Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. lifted its holdings in shares of Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares in the last quarter. Solstein Capital LLC boosted its position in shares of Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the last quarter. WPG Advisers LLC bought a new stake in Quanta Services in the 1st quarter worth about $31,000. Finally, Ameriflex Group Inc. raised its position in Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after buying an additional 40 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $452.19, for a total value of $1,808,760.00. Following the sale, the director directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 0.9%

PWR stock opened at $460.84 on Friday. The business’s 50-day moving average price is $439.41 and its 200-day moving average price is $399.36. The stock has a market cap of $68.72 billion, a P/E ratio of 68.27, a PEG ratio of 2.61 and a beta of 1.14. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $469.43.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The company had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PWR shares. Argus set a $540.00 price target on shares of Quanta Services in a report on Friday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Truist Financial lifted their target price on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Quanta Services in a report on Monday, December 1st. Finally, Wall Street Zen lowered Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $446.48.

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.