Baird Financial Group Inc. Sells 5,285 Shares of Quanta Services, Inc. $PWR

Baird Financial Group Inc. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 8.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,307 shares of the construction company’s stock after selling 5,285 shares during the period. Baird Financial Group Inc.’s holdings in Quanta Services were worth $21,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Guggenheim Capital LLC grew its stake in Quanta Services by 7.4% in the second quarter. Guggenheim Capital LLC now owns 4,822 shares of the construction company’s stock valued at $1,823,000 after acquiring an additional 334 shares during the period. JBR Co Financial Management Inc bought a new position in shares of Quanta Services in the 2nd quarter worth $228,000. Menard Financial Group LLC lifted its holdings in shares of Quanta Services by 150.2% in the 2nd quarter. Menard Financial Group LLC now owns 3,650 shares of the construction company’s stock worth $1,380,000 after purchasing an additional 2,191 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in Quanta Services in the 2nd quarter valued at $53,000. Finally, Berbice Capital Management LLC bought a new stake in Quanta Services during the 2nd quarter valued at $38,000. Institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 2,730 shares in the company, valued at $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were 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. This represents a 24.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,002 shares of company stock valued at $14,295,857 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

PWR stock opened at $460.84 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The firm has a market cap of $68.72 billion, a PE ratio of 68.27, a P/E/G ratio of 2.61 and a beta of 1.14. The business has a 50 day moving average of $439.41 and a 200-day moving average of $399.36. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $469.43.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on PWR. Truist Financial raised their price objective on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Citigroup upped their target price on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Stifel Nicolaus set a $495.00 price target on Quanta Services in a research note on Monday, November 3rd. JPMorgan Chase & Co. boosted their price objective on Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Quanta Services in a report on Monday, December 1st. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.