Quanta Services, Inc. $PWR Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,986 shares of the construction company’s stock after selling 128 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Quanta Services were worth $1,129,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in PWR. SCP Investment LP acquired a new position in shares of Quanta Services during the first quarter valued at approximately $966,000. Brighton Jones LLC purchased a new stake in shares of Quanta Services during the fourth quarter worth approximately $298,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Quanta Services in the 2nd quarter valued at $271,000. PNC Financial Services Group Inc. lifted its holdings in Quanta Services by 0.9% in 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, Swedbank AB boosted its stake in Quanta Services by 50.5% during the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock worth $304,269,000 after purchasing an additional 401,418 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the company’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 value of $2,859,907.05. Following the transaction, the director directly owned 2,730 shares in the company, valued at approximately $1,229,728.50. This represents a 69.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the sale, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This trade represents a 24.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Up 2.9%

PWR stock opened at $439.09 on Wednesday. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $469.43. The firm has a market cap of $65.48 billion, a PE ratio of 67.97, a PEG ratio of 2.66 and a beta of 1.10. The firm’s 50 day moving average price is $423.47 and its 200-day moving average price is $389.06. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR) last posted its earnings results 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 company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter last year, the firm earned $2.72 earnings per share. The firm’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, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s payout ratio is 5.93%.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent research reports. Sanford C. Bernstein cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price for the company. in a research report on Monday, July 28th. UBS Group increased their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a report on Friday, July 25th. Jefferies Financial Group boosted their target price on Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Finally, Wall Street Zen lowered Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Twelve investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, Quanta Services currently has an average rating of “Hold” and an average target price of $438.64.

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.