Norris Perne & French LLP MI Has $17.81 Million Stock Holdings in Quanta Services, Inc. $PWR

Norris Perne & French LLP MI lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 42.6% during the third quarter, HoldingsChannel reports. The firm owned 42,980 shares of the construction company’s stock after selling 31,910 shares during the quarter. Norris Perne & French LLP MI’s holdings in Quanta Services were worth $17,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Quanta Services during the second quarter worth $675,802,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Quanta Services in the 2nd quarter valued at about $650,960,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Quanta Services by 57.2% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock worth $917,009,000 after purchasing an additional 882,209 shares during the last quarter. Amundi raised its holdings in shares of Quanta Services by 188.3% in the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after purchasing an additional 788,079 shares during the period. Finally, Select Equity Group L.P. lifted its stake in Quanta Services by 69.3% in the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock valued at $384,554,000 after purchasing an additional 416,395 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PWR. Jefferies Financial Group upped their price objective on Quanta Services from $469.00 to $517.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Mizuho set a $415.00 price target on Quanta Services in a research note on Tuesday, October 28th. Truist Financial lifted their price objective on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Roth Capital set a $500.00 price objective on shares of Quanta Services and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Citigroup raised their target price on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $450.10.

Insider Buying and Selling at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director directly owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the sale, the executive vice president owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Down 0.2%

PWR stock opened at $432.76 on Monday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $473.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a market capitalization of $64.53 billion, a price-to-earnings ratio of 64.11, a PEG ratio of 2.45 and a beta of 1.14. The business’s fifty day moving average price is $443.19 and its two-hundred day moving average price is $409.51.

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, beating 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 company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the previous year, the business posted $2.72 earnings per share. Quanta Services’s quarterly revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

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.