Southeast Asset Advisors LLC Sells 685 Shares of Quanta Services, Inc. $PWR

Key Points

• Southeast Asset Advisors LLC reduced its stake in Quanta Services, Inc. by 19.4%, selling 685 shares to hold a total of 2,853 shares worth approximately $725,000.
• Institutional ownership of Quanta Services is high, with 90.49% of shares controlled by institutional investors, and several firms increased their positions during the first quarter.
• Analysts have mixed ratings on Quanta Services, with a consensus price target of $392.45 and 13 analysts rating it as a Buy while 12 issued a Hold rating.

Southeast Asset Advisors LLC cut its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 19.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,853 shares of the construction company's stock after selling 685 shares during the period. Southeast Asset Advisors LLC's holdings in Quanta Services were worth $725,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in shares of Quanta Services by 33.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 12,089 shares of the construction company's stock worth $3,073,000 after purchasing an additional 2,997 shares in the last quarter. Groupe la Francaise raised its position in shares of Quanta Services by 187.5% during the 1st quarter. Groupe la Francaise now owns 34,457 shares of the construction company's stock valued at $8,782,000 after purchasing an additional 22,470 shares during the period. AlphaQuest LLC bought a new stake in shares of Quanta Services during the 1st quarter valued at $35,000. Sprott Inc. raised its position in shares of Quanta Services by 11.2% during the 1st quarter. Sprott Inc. now owns 2,874 shares of the construction company's stock valued at $731,000 after purchasing an additional 289 shares during the period. Finally, Purus Wealth Management LLC raised its position in shares of Quanta Services by 51.1% during the 1st quarter. Purus Wealth Management LLC now owns 1,670 shares of the construction company's stock valued at $424,000 after purchasing an additional 565 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on PWR shares. Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Piper Sandler restated an "overweight" rating and set a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Sanford C. Bernstein cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price for the company. in a research note on Monday, July 28th. Finally, B. Riley raised their target price on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $379.58 on Friday. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The stock has a market capitalization of $56.56 billion, a P/E ratio of 58.76, a PEG ratio of 2.26 and a beta of 1.10. The firm has a fifty day simple moving average of $385.24 and a two-hundred day simple moving average of $325.26. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same period last year, the company posted $1.90 EPS. The business's revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

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.

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