Insider Selling: Quanta Services (NYSE:PWR) Director Sells $2,859,907.05 in Stock

Quanta Services, Inc. (NYSE:PWR) Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 2,730 shares in the company, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Quanta Services Stock Up 0.5%

Shares of Quanta Services stock opened at $445.32 on Monday. The firm has a market cap of $66.40 billion, a PE ratio of 68.93, a P/E/G ratio of 2.66 and a beta of 1.10. The business’s 50 day simple moving average is $414.54 and its 200 day simple moving average is $382.17. 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, Inc. has a 52-week low of $227.08 and a 52-week high of $469.43.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period last year, the business earned $2.72 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services’s payout ratio is 5.93%.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Mizuho set a $415.00 target price on Quanta Services in a research report on Tuesday, October 28th. Robert W. Baird set a $490.00 price target on Quanta Services in a research note on Friday, October 31st. Weiss Ratings cut Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. 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 note on Monday, July 28th. Finally, Stifel Nicolaus set a $495.00 target price on shares of Quanta Services in a report on Monday, November 3rd. Twelve research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.