Moran Wealth Management LLC Sells 10,331 Shares of Quanta Services, Inc. $PWR

Moran Wealth Management LLC reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 17.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 47,762 shares of the construction company’s stock after selling 10,331 shares during the period. Moran Wealth Management LLC’s holdings in Quanta Services were worth $19,794,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Brighton Jones LLC acquired a new position in Quanta Services in the 4th quarter worth $298,000. AQR Capital Management LLC raised its stake in shares of Quanta Services by 4.1% in the 1st quarter. AQR Capital Management LLC now owns 41,533 shares of the construction company’s stock valued at $10,320,000 after purchasing an additional 1,622 shares during the period. Caxton Associates LLP acquired a new position in shares of Quanta Services during the first quarter worth about $846,000. Arete Wealth Advisors LLC bought a new position in shares of Quanta Services during the first quarter worth about $217,000. Finally, Woodline Partners LP raised its position in Quanta Services by 40.7% in the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after buying an additional 3,606 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $437.40 on Thursday. The firm has a 50-day moving average of $442.48 and a 200-day moving average of $413.19. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $473.99. The company has a market cap of $65.23 billion, a PE ratio of 64.80, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. 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 earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The company had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the prior year, the firm earned $2.72 EPS. Quanta Services’s quarterly revenue 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, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the sale, the executive vice president owned 34,575 shares of the company’s stock, valued at $15,344,730.75. This trade represents a 28.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction dated Wednesday, November 5th. The stock was 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 $1,229,728.50. The trade was a 69.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 in the last quarter. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PWR. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Quanta Services in a research report on Monday, December 29th. Robert W. Baird set a $490.00 target price on shares of Quanta Services in a report 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 research note on Friday, October 31st. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $457.00 to $515.00 in a research report on Monday, December 8th. Finally, Mizuho set a $415.00 price objective on Quanta Services in a report on Tuesday, October 28th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $450.10.

Quanta Services Company 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.