Camden National Bank decreased its stake in Quanta Services, Inc. (NYSE:PWR – Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,764 shares of the construction company’s stock after selling 1,820 shares during the quarter. Quanta Services makes up 2.9% of Camden National Bank’s holdings, making the stock its largest position. Camden National Bank’s holdings in Quanta Services were worth $21,282,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Cedar Mountain Advisors LLC grew its position in Quanta Services by 321.4% during the fourth quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock valued at $25,000 after buying an additional 45 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Quanta Services in the second quarter worth about $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Quanta Services during the 4th quarter worth about $28,000. MV Capital Management Inc. purchased a new stake in shares of Quanta Services during the 4th quarter worth about $30,000. Finally, Meeder Asset Management Inc. grew its position in shares of Quanta Services by 221.7% during the 4th quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock valued at $31,000 after acquiring an additional 51 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, CAO Paul Nobel sold 4,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the transaction, the chief accounting officer directly owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the sale, the chief executive officer directly owned 556,911 shares of the company’s stock, valued at approximately $429,183,462.15. This represents a 18.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 159,992 shares of company stock worth $123,244,714. Insiders own 0.60% of the company’s stock.
Quanta Services Stock Performance
Quanta Services (NYSE:PWR – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.04 by $0.64. The firm had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm’s revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, equities research analysts expect that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.
Quanta Services announced that its board has approved a stock repurchase plan on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Quanta Services Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Wednesday, July 1st. Quanta Services’s dividend payout ratio is 6.04%.
Analyst Upgrades and Downgrades
PWR has been the subject of a number of analyst reports. Sanford C. Bernstein upped their price target on Quanta Services from $538.00 to $725.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. TD Cowen raised their price objective on Quanta Services from $570.00 to $775.00 and gave the company a “buy” rating in a report on Monday, May 4th. Evercore boosted their price objective on Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. BNP Paribas Exane started coverage on Quanta Services in a research note on Tuesday, April 14th. They set a “neutral” rating for the company. Finally, Citigroup increased their target price on Quanta Services from $640.00 to $733.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Nineteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $751.86.
Read Our Latest Stock 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.
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