FineMark National Bank & Trust Lowers Stock Position in Quanta Services, Inc. $PWR

FineMark National Bank & Trust decreased its position in Quanta Services, Inc. (NYSE:PWR) by 18.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,914 shares of the construction company’s stock after selling 15,642 shares during the period. Quanta Services comprises 0.9% of FineMark National Bank & Trust’s investment portfolio, making the stock its 22nd biggest position. FineMark National Bank & Trust’s holdings in Quanta Services were worth $25,299,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PWR. Old Port Advisors raised its holdings in Quanta Services by 0.7% in the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after purchasing an additional 26 shares during the period. Ashton Thomas Private Wealth LLC increased its position in shares of Quanta Services by 1.2% in the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after buying an additional 26 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake 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 worth $242,000 after buying an additional 32 shares during the period. PFG Private Wealth Management LLC lifted its position in shares of Quanta Services by 4.1% during the 2nd quarter. PFG Private Wealth Management LLC now owns 808 shares of the construction company’s stock valued at $305,000 after buying an additional 32 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its stake in Quanta Services by 1.1% in the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after acquiring an additional 34 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total value of $3,413,850.24. Following the transaction, the insider directly owned 19,960 shares in the company, valued at approximately $8,903,756.80. This represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total value of $1,808,760.00. Following the completion of the transaction, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 32,002 shares of company stock valued at $14,295,857 over the last three months. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on PWR. Sanford C. Bernstein downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective on the stock. in a report on Monday, July 28th. Stifel Nicolaus set a $495.00 price target on shares of Quanta Services in a research note on Monday, November 3rd. Roth Capital set a $500.00 price objective on Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 31st. Citigroup raised 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. Finally, Jefferies Financial Group boosted their price target on Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Twelve investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $438.64.

Quanta Services Trading Up 2.9%

Shares of Quanta Services stock opened at $439.09 on Wednesday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $469.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The stock has a market cap of $65.48 billion, a P/E ratio of 67.97, a P/E/G ratio of 2.66 and a beta of 1.10. The stock’s 50 day simple moving average is $423.47 and its 200-day simple moving average is $389.06.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

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.