Quanta Services, Inc. $PWR Shares Sold by Renasant Bank

Renasant Bank lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,476 shares of the construction company’s stock after selling 158 shares during the quarter. Renasant Bank’s holdings in Quanta Services were worth $936,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Old Port Advisors boosted its stake in Quanta Services by 0.7% during the second quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock valued at $1,491,000 after buying an additional 26 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in Quanta Services by 1.2% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after acquiring an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Quanta Services by 3.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after purchasing an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC raised its holdings in shares of Quanta Services by 1.1% in the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock worth $792,000 after purchasing an additional 34 shares in the last quarter. Finally, Eastern Bank lifted its stake in Quanta Services by 23.5% during the second quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after purchasing an additional 35 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction 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 owned 12,493 shares in the company, valued at approximately $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the transaction, the executive vice president owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 32,002 shares of company stock valued at $14,295,857 over the last ninety days. 1.10% of the stock is owned by insiders.

Quanta Services Stock Performance

NYSE:PWR opened at $449.16 on Wednesday. The firm has a market capitalization of $66.98 billion, a PE ratio of 69.53, a PEG ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $469.43. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm’s fifty day simple moving average is $417.47 and its 200 day simple moving average is $384.48.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the business posted $2.72 earnings per share. The firm’s 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. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on PWR. Stifel Nicolaus set a $495.00 price target on Quanta Services in a report on Monday, November 3rd. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. 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 note on Monday, November 3rd. DA Davidson boosted their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Finally, Argus set a $540.00 target price on shares of Quanta Services in a research note on Friday, October 31st. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Quanta Services presently has an average rating of “Hold” and a consensus target price of $438.64.

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.