Fulton Bank N.A. Sells 1,190 Shares of Quanta Services, Inc. $PWR

Fulton Bank N.A. trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 10.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,062 shares of the construction company’s stock after selling 1,190 shares during the quarter. Fulton Bank N.A.’s holdings in Quanta Services were worth $4,170,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PWR. Commonwealth Financial Services LLC increased its holdings in shares of Quanta Services by 4.1% in the 3rd quarter. Commonwealth Financial Services LLC now owns 1,262 shares of the construction company’s stock valued at $523,000 after acquiring an additional 50 shares during the period. Simon Quick Advisors LLC boosted its position in Quanta Services by 20.5% during the third quarter. Simon Quick Advisors LLC now owns 741 shares of the construction company’s stock valued at $307,000 after purchasing an additional 126 shares in the last quarter. Taylor Frigon Capital Management LLC purchased a new position in Quanta Services in the third quarter valued at about $2,401,000. GAM Holding AG bought a new position in Quanta Services in the third quarter worth about $395,000. Finally, NTV Asset Management LLC lifted its position in shares of Quanta Services by 6.7% during the third quarter. NTV Asset Management LLC now owns 747 shares of the construction company’s stock valued at $310,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $439.72 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a 50-day moving average of $442.85 and a two-hundred day moving average of $411.22. The stock has a market cap of $65.57 billion, a P/E ratio of 65.14, a P/E/G ratio of 2.05 and a beta of 1.16. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $473.99.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.09. The firm had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the business posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, 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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the sale, the executive vice president owned 34,575 shares in the company, valued at $15,344,730.75. The trade was a 28.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,002 shares of company stock worth $14,295,857 over the last ninety days. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Argus set a $540.00 price objective on shares of Quanta Services in a research report on Friday, October 31st. Mizuho set a $415.00 target price on shares of Quanta Services in a research note on Tuesday, October 28th. Evercore ISI upped their price target on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Sanford C. Bernstein lowered their price objective on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research report on Friday, December 19th. Finally, Robert W. Baird set a $490.00 target price on Quanta Services in a research report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $450.10.

About Quanta Services

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.