Valley National Advisers Inc. Sells 6,787 Shares of Quanta Services, Inc. $PWR

Valley National Advisers Inc. trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 96.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 279 shares of the construction company’s stock after selling 6,787 shares during the period. Valley National Advisers Inc.’s holdings in Quanta Services were worth $115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Worth Asset Management LLC acquired a new position in Quanta Services during the third quarter worth $204,000. Sunburst Financial Group LLC increased its holdings in shares of Quanta Services by 13.6% during the 3rd quarter. Sunburst Financial Group LLC now owns 1,125 shares of the construction company’s stock valued at $466,000 after acquiring an additional 135 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Quanta Services by 24.1% in the 3rd quarter. Perigon Wealth Management LLC now owns 1,666 shares of the construction company’s stock valued at $690,000 after acquiring an additional 324 shares in the last quarter. Sowell Financial Services LLC raised its position in shares of Quanta Services by 24.7% in the third quarter. Sowell Financial Services LLC now owns 1,525 shares of the construction company’s stock valued at $632,000 after purchasing an additional 302 shares during the period. Finally, FSM Wealth Advisors LLC acquired a new stake in shares of Quanta Services in the third quarter worth $318,000. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PWR shares. Evercore ISI raised their target price on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Robert W. Baird set a $490.00 price objective on Quanta Services in a research note on Friday, October 31st. Stifel Nicolaus set a $495.00 target price on Quanta Services in a research note on Monday, November 3rd. Jefferies Financial Group lifted their price target on Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group set a $495.00 price target on Quanta Services in a report on Monday, November 24th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $450.10.

Insider Buying and Selling at Quanta Services

In related news, Director Bernard Fried sold 4,000 shares of the 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 completion of the transaction, the director 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of Quanta Services 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 in the company, valued at $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 32,002 shares of company stock worth $14,295,857. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $432.76 on Monday. The firm has a market capitalization of $64.53 billion, a PE ratio of 64.11, a PEG ratio of 2.45 and a beta of 1.14. 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, Inc. has a 1-year low of $227.08 and a 1-year high of $473.99. The business’s 50 day moving average is $443.19 and its 200-day moving average is $409.51.

Quanta Services (NYSE:PWR) last issued 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 business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.Quanta Services’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

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.