Invesco Ltd. Has $647.25 Million Holdings in Quanta Services, Inc. $PWR

Invesco Ltd. reduced its stake in Quanta Services, Inc. by 10.3% in Q2, owning 1.15% of the company worth $647.25 million. Quanta Services reported Q3 earnings of $3.33 per share, beating estimates, with revenue up 17.5% year-over-year. Analysts have mixed ratings, with a consensus target price of $442.32. Institutional investors own 90.49% of Quanta's stock.

Invesco Ltd. decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,711,949 shares of the construction company's stock after selling 196,540 shares during the quarter. Invesco Ltd. owned approximately 1.15% of Quanta Services worth $647,254,000 as of its most recent SEC filing.

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Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Old Port Advisors increased its position in shares of Quanta Services by 0.7% in the second quarter. Old Port Advisors now owns 3,944 shares of the construction company's stock valued at $1,491,000 after acquiring an additional 26 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of Quanta Services by 1.2% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company's stock worth $851,000 after purchasing an additional 26 shares during the last quarter. RiverPark Advisors LLC raised its stake in shares of Quanta Services by 29.3% during the 2nd quarter. RiverPark Advisors LLC now owns 128 shares of the construction company's stock worth $48,000 after purchasing an additional 29 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Quanta Services by 3.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock valued at $242,000 after buying an additional 32 shares during the last quarter. Finally, PFG Private Wealth Management LLC boosted its holdings in shares of Quanta Services by 4.1% in 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 during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Up 0.4%

Shares of NYSE:PWR opened at $456.43 on Thursday. The stock has a market cap of $68.06 billion, a PE ratio of 67.62, a P/E/G ratio of 2.57 and a beta of 1.14. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $469.43. The business has a 50 day moving average of $436.99 and a 200-day moving average of $397.71.

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Quanta Services (NYSE:PWR - Get Free Report) last released 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. The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The firm's quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PWR. Robert W. Baird set a $490.00 price target on shares of Quanta Services in a research note on Friday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $436.00 to $457.00 and gave the company a "neutral" rating in a report on Friday, October 31st. Stifel Nicolaus set a $495.00 price target on Quanta Services in a report on Monday, November 3rd. Citigroup upped their price objective on Quanta Services from $517.00 to $526.00 and gave the company a "buy" rating in a research note on Friday, October 31st. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Quanta Services in a research note on Monday. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $442.32.

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Insider Buying and Selling at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm's stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the transaction, the insider directly owned 19,960 shares of the company's stock, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the director owned 12,493 shares of the company's stock, valued at $5,649,209.67. This trade represents a 24.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is currently owned by insiders.

Quanta Services Company Profile

(Free Report)

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.

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