HighVista Strategies LLC Sells 1,700 Shares of Quanta Services, Inc. $PWR

HighVista Strategies LLC lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 21.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,400 shares of the construction company’s stock after selling 1,700 shares during the period. Quanta Services makes up about 0.9% of HighVista Strategies LLC’s holdings, making the stock its 29th biggest position. HighVista Strategies LLC’s holdings in Quanta Services were worth $2,420,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Copia Wealth Management raised its holdings in shares of Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after acquiring an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares during the last quarter. Solstein Capital LLC increased its holdings in shares of Quanta Services by 185.7% in 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. WPG Advisers LLC bought a new stake in shares of Quanta Services during the 1st quarter worth $31,000. Finally, Ameriflex Group Inc. raised its position in Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Activity

In related news, Director Worthing Jackman sold 6,349 shares of the stock in a transaction dated 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 position. The sale was disclosed in a document filed 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 dated Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the transaction, the director directly owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is currently owned by company insiders.

Quanta Services Trading Up 0.9%

NYSE:PWR opened at $462.15 on Thursday. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $473.99. The company’s 50-day simple moving average is $442.18 and its 200 day simple moving average is $401.99. The firm has a market capitalization of $68.92 billion, a P/E ratio of 68.47, a PEG ratio of 2.60 and a beta of 1.14. 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 results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the previous year, the firm posted $2.72 EPS. The business’s revenue for the quarter 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. As a group, analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on PWR shares. Evercore ISI upped their price target on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Mizuho set a $415.00 price target on shares of Quanta Services in a research report on Tuesday, October 28th. Argus set a $540.00 target price on Quanta Services in a research note on Friday, October 31st. Roth Capital set a $500.00 price target on shares of Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $457.00 to $515.00 in a research report on Monday. Fourteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $449.24.

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.