PWR COO Probst sells 34,000 shares for $8.8M at $260.03 avg, cutting stake by 54%
James Redgie Probst, Chief Operating Officer of Quanta Services, Inc., executed 2 separate open-market sales on 2024-08-09, totaling 34,000 shares for $8,841,067.95 at a blended average price of $260.03. This reduction cut his holdings from 63,002 to 29,002 shares, a -54.0% net change. The sales occurred near the stock's current price of $262.00, which remains -7.6% below the 52-week high of $283.43. Examining prior patterns at PWR specifically: Probst's 2 earlier sales at this ticker (both on 2023-05-10) each generated positive 30-day and 90-day returns, meaning he sold before subsequent price appreciation—a poorly-timed pattern in both instances. The material scale of this divestiture (selling more than half his remaining holdings) combined with the company's elevated valuation (P/E of 48.88) and strong growth backdrop (annual revenue growth +22.3%, current quarterly revenue $5.6B) merits attention to whether this represents concentrated portfolio management or a shift in conviction regarding near-term prospects.