Panagora Asset Management Inc. Sells 2,720 Shares of Quanta Services, Inc. $PWR

Panagora Asset Management Inc. lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 41.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,884 shares of the construction company’s stock after selling 2,720 shares during the quarter. Panagora Asset Management Inc.’s holdings in Quanta Services were worth $1,468,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in Quanta Services during the fourth quarter worth approximately $298,000. Commonwealth Equity Services LLC lifted its stake in Quanta Services by 12.7% in the first quarter. Commonwealth Equity Services LLC now owns 69,846 shares of the construction company’s stock valued at $17,753,000 after buying an additional 7,868 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Quanta Services by 15.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company’s stock worth $72,000 after buying an additional 38 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after buying an additional 407,878 shares during the period. Finally, Nicholas Hoffman & Company LLC. bought a new stake in shares of Quanta Services in the 1st quarter valued at $224,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE PWR opened at $464.89 on Friday. The stock has a market cap of $69.32 billion, a price-to-earnings ratio of 68.87, a PEG ratio of 2.59 and a beta of 1.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $469.43. The firm’s 50-day simple moving average is $438.31 and its 200 day simple moving average is $398.17.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 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 the consensus estimate of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on PWR shares. Weiss Ratings restated a “buy (b-)” rating on shares of Quanta Services in a report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Citigroup boosted their target price on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Evercore ISI upped their price target on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Mizuho set a $415.00 price objective on Quanta Services in a research note on Tuesday, October 28th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $442.32.

Insider Buying and Selling

In other news, Director Bernard Fried sold 4,000 shares of the stock in a transaction dated 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 completion of the sale, the director 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were 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 in the company, valued at $8,903,756.80. The trade was a 27.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,002 shares of company stock valued at $14,295,857 in the last 90 days. Insiders own 1.10% of the company’s stock.

Quanta Services 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.