Quanta Services, Inc. $PWR Position Boosted by Glenview Trust Co

Glenview Trust Co increased its position in Quanta Services, Inc. (NYSE:PWRFree Report) by 5.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,375 shares of the construction company’s stock after purchasing an additional 915 shares during the period. Glenview Trust Co’s holdings in Quanta Services were worth $9,539,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC grew its position in shares of Quanta Services by 2.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company’s stock worth $282,000 after acquiring an additional 13 shares in the last quarter. SouthState Bank Corp raised its position in shares of Quanta Services by 23.5% during the 1st quarter. SouthState Bank Corp now owns 84 shares of the construction company’s stock valued at $46,000 after acquiring an additional 16 shares in the last quarter. Lewis Asset Management LLC lifted its stake in Quanta Services by 2.5% during the first quarter. Lewis Asset Management LLC now owns 692 shares of the construction company’s stock worth $380,000 after purchasing an additional 17 shares during the last quarter. Stiles Financial Services Inc lifted its stake in Quanta Services by 1.8% during the first quarter. Stiles Financial Services Inc now owns 987 shares of the construction company’s stock worth $542,000 after purchasing an additional 17 shares during the last quarter. Finally, Ethos Financial Group LLC boosted its holdings in Quanta Services by 1.8% in the first quarter. Ethos Financial Group LLC now owns 1,064 shares of the construction company’s stock worth $584,000 after purchasing an additional 19 shares during the period. 90.49% of the stock is owned by institutional investors.

Insider Activity at Quanta Services

In other news, CAO Paul Nobel sold 4,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer directly owned 8,080 shares in the company, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value of $20,032,294.32. Following the completion of the transaction, the chief executive officer directly owned 16,508 shares of the company’s stock, valued at $12,722,880.68. This trade represents a 61.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 159,992 shares of company stock worth $123,244,714 in the last 90 days. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research reports. Sanford C. Bernstein increased their target price on shares of Quanta Services from $538.00 to $725.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. CICC Research assumed coverage on shares of Quanta Services in a research report on Thursday, May 21st. They set an “outperform” rating and a $872.00 price objective for the company. Robert W. Baird increased their price objective on shares of Quanta Services from $606.00 to $777.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Jefferies Financial Group cut their target price on shares of Quanta Services from $857.00 to $784.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on Quanta Services from $627.00 to $805.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $749.68.

View Our Latest Stock Analysis on Quanta Services

Quanta Services Stock Performance

PWR stock opened at $633.11 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. The stock has a market capitalization of $95.00 billion, a price-to-earnings ratio of 86.85, a PEG ratio of 2.47 and a beta of 1.21. Quanta Services, Inc. has a 1 year low of $363.01 and a 1 year high of $788.75. The stock’s fifty day moving average is $700.55 and its two-hundred day moving average is $600.86.

Quanta Services (NYSE:PWRGet Free Report) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The business had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The company’s quarterly revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, research analysts predict that Quanta Services, Inc. will post 12.8 EPS for the current year.

Quanta Services declared that its board has initiated a stock buyback program on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st were given a $0.11 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.44 annualized dividend and a yield of 0.1%. Quanta Services’s dividend payout ratio is 6.04%.

About Quanta Services

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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