Renasant Bank Sells 158 Shares of Quanta Services, Inc. $PWR

Renasant Bank lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 6.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,476 shares of the construction company’s stock after selling 158 shares during the period. Renasant Bank’s holdings in Quanta Services were worth $936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC bought a new position in Quanta Services during the fourth quarter worth about $298,000. Mutual of America Capital Management LLC raised its holdings in shares of Quanta Services by 1.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 21,136 shares of the construction company’s stock worth $5,372,000 after buying an additional 389 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Quanta Services by 14.9% in the 1st quarter. New York State Common Retirement Fund now owns 115,439 shares of the construction company’s stock valued at $29,342,000 after buying an additional 14,967 shares in the last quarter. Stephens Inc. AR grew its position in Quanta Services by 13.3% in the first quarter. Stephens Inc. AR now owns 17,328 shares of the construction company’s stock valued at $4,404,000 after acquiring an additional 2,036 shares during the period. Finally, Signaturefd LLC raised its stake in Quanta Services by 1.4% during the first quarter. Signaturefd LLC now owns 3,091 shares of the construction company’s stock worth $786,000 after acquiring an additional 44 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Insider Buying and Selling at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the transaction, the insider directly owned 19,960 shares in the company, valued at $8,903,756.80. This represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction on Monday, November 3rd. The stock was 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 $5,649,209.67. This represents a 24.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,002 shares of company stock worth $14,295,857 over the last quarter. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

PWR stock opened at $449.16 on Wednesday. The company has a 50 day moving average price of $417.47 and a 200 day moving average price of $384.48. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $469.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The stock has a market capitalization of $66.98 billion, a PE ratio of 69.53, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period last year, the firm earned $2.72 EPS. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio is presently 5.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PWR shares. Evercore ISI boosted 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. Weiss Ratings lowered shares of Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. UBS Group upped their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Wall Street Zen cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Robert W. Baird set a $490.00 price target on Quanta Services in a research report on Friday, October 31st. Twelve investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $438.64.

About Quanta Services

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.