Swedbank AB Sells 171,866 Shares of Quanta Services, Inc. $PWR

Swedbank AB cut its stake in Quanta Services, Inc. (NYSE:PWR) by 19.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 693,031 shares of the construction company’s stock after selling 171,866 shares during the period. Swedbank AB’s holdings in Quanta Services were worth $287,206,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Copia Wealth Management lifted its position in Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after purchasing an additional 56 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Quanta Services in the 2nd quarter valued at approximately $26,000. SOA Wealth Advisors LLC. lifted its holdings in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares during the period. Solstein Capital LLC boosted its position 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, Ameriflex Group Inc. increased its stake in Quanta Services by 93.0% in the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $435.52 on Wednesday. The company has a market capitalization of $64.94 billion, a PE ratio of 64.52, a P/E/G ratio of 2.46 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. The stock has a 50-day moving average price of $443.37 and a two-hundred day moving average price of $407.82. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $473.99.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $2.72 earnings per share. The firm’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. Analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction dated 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 sale, the director owned 12,493 shares in the company, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $2,859,907.05. Following the transaction, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 32,002 shares of company stock worth $14,295,857 over the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of several recent analyst reports. Roth Capital set a $500.00 target price on Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 31st. The Goldman Sachs Group set a $495.00 price objective on Quanta Services in a research report on Monday, November 24th. Stifel Nicolaus set a $495.00 price objective on Quanta Services in a research note on Monday, November 3rd. Robert W. Baird set a $490.00 target price on shares of Quanta Services in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. upgraded shares of Quanta Services from a “neutral” rating to an “overweight” rating and raised their price target for the company from $457.00 to $515.00 in a research note on Monday, December 8th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $450.10.

Quanta Services Company 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.