Envestnet Portfolio Solutions Inc. Has $3.75 Million Stock Holdings in Quanta Services, Inc. $PWR

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 25.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,038 shares of the construction company’s stock after selling 3,057 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Quanta Services were worth $3,746,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Quanta Services in the 2nd quarter worth approximately $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Quanta Services by 57.2% in the second 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 buying an additional 882,209 shares during the last quarter. Select Equity Group L.P. lifted its position in 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 worth $384,554,000 after buying an additional 416,395 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 acquiring an additional 339,383 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Quanta Services by 150.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company’s stock valued at $156,026,000 after acquiring an additional 251,845 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PWR has been the topic of several research analyst reports. Mizuho set a $415.00 price target on shares of Quanta Services in a research note on Tuesday, October 28th. Evercore ISI increased their price objective on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Weiss Ratings upgraded Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Citigroup raised their price target on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Roth Mkm set a $500.00 price objective on Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $460.20.

Quanta Services Stock Performance

PWR stock opened at $468.75 on Monday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $483.29. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The firm has a market cap of $69.90 billion, a PE ratio of 69.44, a P/E/G ratio of 2.27 and a beta of 1.16. The business’s 50-day moving average price is $443.81 and its two-hundred day moving average price is $419.53.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the prior year, the company 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 forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the transaction, the executive vice president directly owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. This represents a 28.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,808,760.00. Following the completion of the sale, the director directly owned 12,493 shares in the company, valued at $5,649,209.67. This represents a 24.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,002 shares of company stock worth $14,295,857 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

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.