Meeder Asset Management Inc. Has $4.08 Million Holdings in Quanta Services, Inc. $PWR

Meeder Asset Management Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWRFree Report) by 9,936.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,427 shares of the construction company’s stock after acquiring an additional 7,353 shares during the quarter. Meeder Asset Management Inc.’s holdings in Quanta Services were worth $4,078,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Meeder Advisory Services Inc. grew its position in shares of Quanta Services by 4.3% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,487 shares of the construction company’s stock worth $2,463,000 after purchasing an additional 184 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Quanta Services by 1.5% during the 1st quarter. Parallel Advisors LLC now owns 19,237 shares of the construction company’s stock worth $10,562,000 after acquiring an additional 281 shares during the period. SEB Asset Management AB bought a new stake in Quanta Services during the first quarter worth $17,479,000. Vision Retirement LLC lifted its position in shares of Quanta Services by 1.0% during the 1st quarter. Vision Retirement LLC now owns 1,934 shares of the construction company’s stock worth $1,062,000 after buying an additional 19 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Quanta Services by 7.2% in the 1st quarter. Swiss National Bank now owns 437,595 shares of the construction company’s stock valued at $240,248,000 after purchasing an additional 29,280 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the business’s stock in a transaction on Monday, May 4th. The shares were 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 owned 8,080 shares in the company, 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. Over the last quarter, insiders have sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by corporate insiders.

Quanta Services Trading Down 0.1%

Shares of PWR stock opened at $628.11 on Monday. Quanta Services, Inc. has a 1-year low of $363.01 and a 1-year high of $788.75. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. The stock has a market cap of $94.25 billion, a price-to-earnings ratio of 86.16, a PEG ratio of 2.47 and a beta of 1.21. The stock has a 50-day moving average of $703.48 and a 200-day moving average of $599.42.

Quanta Services (NYSE:PWRGet Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. The firm’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, equities research analysts forecast that Quanta Services, Inc. will post 12.8 earnings per share for the current year.

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

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were paid 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 of this dividend was Wednesday, July 1st. Quanta Services’s dividend payout ratio is currently 6.04%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Roth Capital upped their price target on shares of Quanta Services from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Stifel Nicolaus set a $784.00 target price on Quanta Services in a report on Friday, May 1st. BMO Capital Markets lifted their price target on Quanta Services from $650.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Robert W. Baird upped their price objective on Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Evercore raised their price objective on shares of Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Nineteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $751.86.

View Our Latest Report on PWR

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.

See Also

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

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