Quanta Services, Inc. $PWR Stake Lessened by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC cut its stake in Quanta Services, Inc. (NYSE:PWR) by 25.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,930 shares of the construction company’s stock after selling 4,721 shares during the period. Ascent Wealth Partners LLC’s holdings in Quanta Services were worth $5,773,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of Quanta Services in the 4th quarter valued at about $298,000. Focus Partners Advisor Solutions LLC acquired a new position in Quanta Services in the first quarter worth about $260,000. Federation des caisses Desjardins du Quebec increased its holdings in Quanta Services by 52.8% in the first quarter. Federation des caisses Desjardins du Quebec now owns 7,742 shares of the construction company’s stock valued at $1,968,000 after buying an additional 2,675 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Quanta Services during the first quarter valued at approximately $5,739,000. Finally, AQR Capital Management LLC lifted its holdings in Quanta Services by 4.1% during the 1st quarter. AQR Capital Management LLC now owns 41,533 shares of the construction company’s stock worth $10,320,000 after buying an additional 1,622 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction dated 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 sale, the director directly owned 12,493 shares in the company, valued at $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Worthing Jackman sold 6,349 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the completion of the transaction, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This represents a 69.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,002 shares of company stock worth $14,295,857 over the last 90 days. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PWR shares. Mizuho set a $415.00 price target on Quanta Services in a research report on Tuesday, October 28th. The Goldman Sachs Group set a $495.00 target price on shares of Quanta Services in a research note on Monday, November 24th. Sanford C. Bernstein reduced their price target on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research report on Friday, December 19th. Argus set a $540.00 price target on shares of Quanta Services in a report on Friday, October 31st. Finally, Citigroup increased their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $450.10.

Quanta Services Stock Up 4.2%

PWR stock opened at $439.72 on Friday. The stock has a market cap of $65.57 billion, a PE ratio of 65.14, a price-to-earnings-growth ratio of 2.14 and a beta of 1.16. The firm’s 50-day simple moving average is $442.85 and its 200 day simple moving average is $411.58. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $473.99. 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 (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping 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 firm 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 firm earned $2.72 EPS. Quanta Services’s quarterly revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

About Quanta Services

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.