Quanta Services, Inc. $PWR Stake Reduced by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 13.2% in the third quarter, Holdings Channel.com reports. The fund owned 161,042 shares of the construction company’s stock after selling 24,511 shares during the period. Vontobel Holding Ltd.’s holdings in Quanta Services were worth $66,739,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Copia Wealth Management lifted its stake in Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. increased its holdings in shares of Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after buying an additional 43 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Quanta Services during the 2nd quarter valued at $26,000. Solstein Capital LLC boosted its stake in shares of Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Quanta Services in the 1st quarter worth $31,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PWR. Sanford C. Bernstein decreased their price target on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research report on Friday, December 19th. Weiss Ratings cut shares of Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Roth Capital set a $500.00 price target on shares of Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $457.00 to $515.00 in a research note on Monday, December 8th. Finally, Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $450.10.

Quanta Services Stock Performance

PWR stock opened at $435.52 on Wednesday. The firm has a 50 day simple moving average of $443.37 and a 200 day simple moving average of $407.82. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $473.99. The stock has a market cap of $64.94 billion, a P/E ratio of 64.52, a P/E/G ratio of 2.46 and a beta of 1.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34.

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

Insider Transactions at Quanta Services

In related news, Director Bernard Fried sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was 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 owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the transaction, the insider directly owned 19,960 shares in the company, valued at approximately $8,903,756.80. The trade was a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,002 shares of company stock valued at $14,295,857 in the last three months. 1.10% of the stock is currently owned by insiders.

Quanta Services Profile

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.