Versant Capital Management Inc Cuts Position in Quanta Services, Inc. $PWR

Versant Capital Management Inc reduced its position in Quanta Services, Inc. (NYSE:PWR) by 90.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131 shares of the construction company’s stock after selling 1,265 shares during the period. Versant Capital Management Inc’s holdings in Quanta Services were worth $54,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Quanta Services during the second quarter valued at approximately $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Quanta Services by 57.2% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock valued at $917,009,000 after acquiring an additional 882,209 shares during the period. Select Equity Group L.P. lifted its holdings in shares of Quanta Services by 69.3% during the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock valued at $384,554,000 after acquiring an additional 416,395 shares in the last quarter. Vanguard Group Inc. boosted its position in Quanta Services by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after purchasing an additional 339,383 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Quanta Services by 150.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company’s stock worth $156,026,000 after purchasing an additional 251,845 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of PWR stock opened at $466.97 on Tuesday. The firm has a market cap of $69.63 billion, a P/E ratio of 69.18, a P/E/G ratio of 2.26 and a beta of 1.16. The firm has a fifty day moving average of $441.43 and a two-hundred day moving average of $417.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $480.93.

Quanta Services (NYSE:PWR) last posted its quarterly 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. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the firm earned $2.72 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PWR shares. Jefferies Financial Group lowered their price objective on shares of Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. The Goldman Sachs Group set a $495.00 target price on shares of Quanta Services in a research note on Monday, November 24th. Argus set a $540.00 price target on shares of Quanta Services in a research note on Friday, October 31st. Sanford C. Bernstein cut their price objective on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a report on Friday, December 19th. Finally, Citigroup raised their target price on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Fourteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $449.57.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of the stock in a transaction 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 sale, the director directly owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. This represents 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 at the SEC website. Also, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was 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 in the company, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 32,002 shares of company stock worth $14,295,857. Company insiders own 1.10% of the company’s stock.

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.