Texas Permanent School Fund Corp Has $3.94 Million Position in Quanta Services, Inc. $PWR

Texas Permanent School Fund Corp cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 34.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,409 shares of the construction company’s stock after selling 5,517 shares during the period. Texas Permanent School Fund Corp’s holdings in Quanta Services were worth $3,935,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PWR. Freedom Day Solutions LLC bought a new stake in shares of Quanta Services in the 2nd quarter valued at approximately $2,465,000. Mediolanum International Funds Ltd grew its position in Quanta Services by 15.5% in the second quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock worth $12,642,000 after acquiring an additional 4,451 shares in the last quarter. Choreo LLC increased its stake in shares of Quanta Services by 4.1% during the 2nd quarter. Choreo LLC now owns 7,734 shares of the construction company’s stock worth $2,924,000 after purchasing an additional 303 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Quanta Services by 0.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 606,414 shares of the construction company’s stock valued at $229,273,000 after purchasing an additional 5,670 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of Quanta Services in the 4th quarter valued at $298,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PWR shares. The Goldman Sachs Group set a $495.00 target price on shares of Quanta Services in a research report on Monday, November 24th. Robert W. Baird set a $490.00 price objective on Quanta Services in a research note on Friday, October 31st. Citigroup boosted their target price on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Quanta Services in a report on Monday. Finally, Wall Street Zen cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $449.24.

Insider Activity at Quanta Services

In related news, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction dated 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 trade represents a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s stock in a transaction dated 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Up 1.7%

PWR opened at $421.16 on Friday. The business has a 50 day moving average of $443.13 and a 200-day moving average of $405.54. The stock has a market capitalization of $62.80 billion, a price-to-earnings ratio of 62.39, a P/E/G ratio of 2.35 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.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the firm posted $2.72 earnings per share. Quanta Services’s revenue 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, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Company Profile

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.