Quanta Services, Inc. $PWR Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 18.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 66,914 shares of the construction company’s stock after selling 15,642 shares during the quarter. Quanta Services accounts for 0.9% of FineMark National Bank & Trust’s portfolio, making the stock its 22nd largest position. FineMark National Bank & Trust’s holdings in Quanta Services were worth $25,299,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Aspen Investment Management Inc boosted its position in shares of Quanta Services by 11.2% during the second quarter. Aspen Investment Management Inc now owns 3,397 shares of the construction company’s stock worth $1,284,000 after buying an additional 341 shares during the period. Highview Capital Management LLC DE lifted its stake in Quanta Services by 2.0% during the 2nd quarter. Highview Capital Management LLC DE now owns 6,124 shares of the construction company’s stock worth $2,315,000 after acquiring an additional 120 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in Quanta Services by 5.3% during the 2nd quarter. Wealthspire Advisors LLC now owns 2,001 shares of the construction company’s stock valued at $756,000 after acquiring an additional 100 shares during the period. Pin Oak Investment Advisors Inc. grew its position in Quanta Services by 595.0% in the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 278 shares of the construction company’s stock valued at $105,000 after acquiring an additional 238 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its stake in Quanta Services by 4.1% during the second quarter. PFG Private Wealth Management LLC now owns 808 shares of the construction company’s stock worth $305,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Stifel Nicolaus set a $495.00 price objective on shares of Quanta Services in a research note on Monday, November 3rd. Argus set a $540.00 price target on shares of Quanta Services in a research note on Friday, October 31st. TD Cowen upped their price objective on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Finally, Mizuho set a $415.00 price target on Quanta Services in a report on Tuesday, October 28th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Hold” and a consensus target price of $438.64.

Quanta Services Stock Performance

NYSE:PWR opened at $439.09 on Wednesday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month 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 firm has a market capitalization of $65.48 billion, a PE ratio of 67.97, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10. The business’s fifty day moving average price is $423.47 and its 200 day moving average price is $389.06.

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, topping 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 business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the prior year, the firm posted $2.72 EPS. The business’s quarterly 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. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend 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 (DPR) is presently 5.93%.

Insider Activity at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction 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 completion of 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. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the firm’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 transaction, the director directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

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.