Quanta Services, Inc. $PWR Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,289 shares of the construction company’s stock after selling 638 shares during the quarter. Metis Global Partners LLC’s holdings in Quanta Services were worth $2,000,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. SCP Investment LP acquired a new stake in Quanta Services during the 1st quarter valued at $966,000. Brighton Jones LLC purchased a new position in shares of Quanta Services during the fourth quarter valued at $298,000. Swedbank AB raised its position in Quanta Services by 50.5% during the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock valued at $304,269,000 after buying an additional 401,418 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Quanta Services in the 2nd quarter worth about $271,000. Finally, Voya Investment Management LLC grew its stake in Quanta Services by 8.6% during the 1st quarter. Voya Investment Management LLC now owns 598,067 shares of the construction company’s stock valued at $152,017,000 after acquiring an additional 47,469 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Activity

In other Quanta Services news, Director Worthing Jackman sold 6,349 shares of the company’s stock in a transaction 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 sale, the director directly owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. This represents a 69.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of Quanta Services 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 owned 12,493 shares of the company’s stock, valued at $5,649,209.67. The trade was a 24.25% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PWR shares. TD Cowen increased their price target on shares of Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. UBS Group boosted their price target 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. Mizuho set a $415.00 price objective on Quanta Services in a report on Tuesday, October 28th. Weiss Ratings downgraded Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Finally, Evercore ISI lifted their price target on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $438.64.

Quanta Services Trading Up 0.5%

Shares of PWR stock opened at $445.32 on Monday. The firm has a 50-day moving average price of $414.54 and a 200 day moving average price of $382.17. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $469.43. The company has a market capitalization of $66.40 billion, a P/E ratio of 68.93, a P/E/G ratio of 2.66 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share 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 3.73% and a return on equity of 18.41%. The company’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal 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 given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s payout ratio is currently 5.93%.

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.