Quanta Services, Inc. $PWR Shares Sold by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 109,405 shares of the construction company’s stock after selling 1,949 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Quanta Services were worth $45,340,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PWR. Copia Wealth Management increased its holdings in shares of Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares during the period. SOA Wealth Advisors LLC. grew its position in Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after buying an additional 43 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Quanta Services in the 2nd quarter valued at $26,000. Solstein Capital LLC raised its position in 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 buying an additional 52 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of Quanta Services in the 1st quarter worth $31,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

PWR opened at $426.50 on Friday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $473.99. The stock has a market cap of $63.60 billion, a P/E ratio of 63.19, a P/E/G ratio of 2.39 and a beta of 1.14. The stock’s 50 day simple moving average is $443.31 and its 200 day simple moving average is $406.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30.

Quanta Services (NYSE:PWR) last issued 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. The firm had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.Quanta Services’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. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PWR. The Goldman Sachs Group set a $495.00 price target on shares of Quanta Services in a research note on Monday, November 24th. JPMorgan Chase & Co. upgraded Quanta Services from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $457.00 to $515.00 in a research report on Monday, December 8th. Truist Financial increased their target price on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Citigroup lifted their price target on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Jefferies Financial Group increased their price objective on Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $450.10.

Insider Transactions at Quanta Services

In other news, Director Bernard Fried sold 4,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total value of $1,808,760.00. Following the sale, the director directly owned 12,493 shares in the company, valued at $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the transaction, the insider directly owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 32,002 shares of company stock worth $14,295,857. Corporate insiders own 1.10% of the company’s stock.

Quanta Services 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.