SFE Investment Counsel increased its holdings in Quanta Services, Inc. (NYSE:PWR – Free Report) by 10.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,184 shares of the construction company’s stock after acquiring an additional 1,811 shares during the quarter. Quanta Services makes up about 1.7% of SFE Investment Counsel’s holdings, making the stock its 16th biggest position. SFE Investment Counsel’s holdings in Quanta Services were worth $10,532,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Cedar Mountain Advisors LLC boosted its stake in shares of Quanta Services by 321.4% during the fourth quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock worth $25,000 after buying an additional 45 shares during the period. Darwin Wealth Management LLC acquired a new stake in Quanta Services during the 2nd quarter worth approximately $26,000. Flagship Harbor Advisors LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $28,000. MV Capital Management Inc. purchased a new stake in shares of Quanta Services during the fourth quarter worth approximately $30,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Quanta Services by 221.7% during the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock worth $31,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.
Quanta Services Price Performance
Shares of NYSE PWR traded down $10.20 during midday trading on Friday, hitting $657.97. The company had a trading volume of 847,048 shares, compared to its average volume of 1,380,968. The firm has a market capitalization of $98.73 billion, a price-to-earnings ratio of 90.26, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. Quanta Services, Inc. has a twelve month low of $363.01 and a twelve month high of $788.75. The business has a 50-day simple moving average of $714.79 and a two-hundred day simple moving average of $590.92. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57.
Quanta Services declared that its Board of Directors has initiated a stock buyback program on Friday, May 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Quanta Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.44 annualized dividend and a yield of 0.1%. Quanta Services’s payout ratio is currently 6.04%.
Insider Buying and Selling at Quanta Services
In other Quanta Services news, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the completion of the transaction, the chief executive officer directly owned 16,508 shares in the company, valued at approximately $12,722,880.68. This trade represents a 61.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the transaction, the chief accounting officer owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 159,992 shares of company stock worth $123,244,714 in the last three months. 0.60% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms recently weighed in on PWR. BMO Capital Markets lifted their price objective on shares of Quanta Services from $650.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Robert W. Baird lifted their target price on shares of Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a report on Friday, May 1st. UBS Group boosted their price target on shares of Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. BNP Paribas Exane assumed coverage on shares of Quanta Services in a report on Tuesday, April 14th. They set a “neutral” rating for the company. Finally, Roth Capital lifted their price objective on Quanta Services from $600.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 6th. Nineteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $751.86.
Read Our Latest Research Report on PWR
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.
Read More
- Five stocks we like better than Quanta Services
- 3 Rare-Earth ETFs That Help Investors Balance Exposure and Risk
- Microsoft Bets on In-House AI to Cut OpenAI and Anthropic Costs
- Delta Air Lines Lives Up to Its Claims: Shares Can Keep Climbing
- This Dividend ETF Choice Could Shape Your Income Strategy Through 2026
Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR – Free Report).
Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.
