GC Wealth Management RIA LLC lifted its stake in Quanta Services, Inc. (NYSE:PWR – Free Report) by 4.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,062 shares of the construction company’s stock after purchasing an additional 766 shares during the period. GC Wealth Management RIA LLC’s holdings in Quanta Services were worth $11,014,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC increased its position in Quanta Services by 2.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company’s stock worth $282,000 after buying an additional 13 shares in the last quarter. Pincus Capital Management LP lifted its position in shares of Quanta Services by 0.4% during the 1st quarter. Pincus Capital Management LP now owns 3,690 shares of the construction company’s stock valued at $2,026,000 after buying an additional 15 shares in the last quarter. SouthState Bank Corp grew its stake 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 during the period. Lewis Asset Management LLC grew its stake in shares of Quanta Services by 2.5% during the 1st quarter. Lewis Asset Management LLC now owns 692 shares of the construction company’s stock valued at $380,000 after acquiring an additional 17 shares during the period. Finally, Stiles Financial Services Inc increased its holdings in Quanta Services by 1.8% in the 1st quarter. Stiles Financial Services Inc now owns 987 shares of the construction company’s stock worth $542,000 after acquiring an additional 17 shares in the last quarter. 90.49% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Mizuho set a $645.00 price target on shares of Quanta Services in a report on Monday. Roth Capital increased their price objective on shares of Quanta Services from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Cantor Fitzgerald lifted their target price on shares of Quanta Services from $630.00 to $901.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Truist Financial upped their target price on shares of Quanta Services from $851.00 to $940.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, BMO Capital Markets upped their price objective on Quanta Services from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $745.55.
Quanta Services Trading Up 1.6%
NYSE PWR opened at $653.25 on Friday. Quanta Services, Inc. has a 12 month low of $363.01 and a 12 month high of $788.75. The company’s 50-day moving average price is $692.83 and its 200-day moving average price is $605.45. The stock has a market cap of $98.03 billion, a PE ratio of 89.61, a PEG ratio of 2.53 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57.
Quanta Services (NYSE:PWR – Get Free Report) last issued its earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.64. The business had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 12.8 earnings per share for the current year.
Quanta Services Dividend Announcement
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 dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s payout ratio is 6.04%.
Quanta Services declared that its Board of Directors has initiated a stock buyback plan on Friday, May 22nd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling at Quanta Services
In related news, CAO Paul Nobel sold 4,000 shares of the company’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 completion of the sale, the chief accounting officer directly owned 8,080 shares of the company’s stock, valued at $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the transaction, the chief executive officer owned 16,508 shares in the company, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 159,992 shares of company stock valued at $123,244,714 over the last quarter. Company insiders own 0.60% of the company’s stock.
Quanta Services Profile
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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