Adell Harriman & Carpenter Inc. Has $65.26 Million Position in Quanta Services, Inc. $PWR

Key Points

• Adell Harriman & Carpenter Inc. trimmed its Quanta Services stake by 2.7% in Q1, but still held 118,866 shares worth about $65.26 million, making PWR its 4th-largest position.
• Quanta Services reported strong quarterly results, posting EPS of $2.68 versus estimates of $2.04 and revenue of $7.87 billion versus $7.0 billion expected, with revenue up 26.3% year over year.
• The company also authorized a $1 billion share repurchase program and recently paid a quarterly dividend of $0.11 per share, while analysts maintain a Moderate Buy consensus with a target price of $751.86.

Adell Harriman & Carpenter Inc. lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,866 shares of the construction company's stock after selling 3,237 shares during the period. Quanta Services comprises about 4.0% of Adell Harriman & Carpenter Inc.'s portfolio, making the stock its 4th largest position. Adell Harriman & Carpenter Inc. owned about 0.08% of Quanta Services worth $65,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in Quanta Services in the fourth quarter worth $298,000. Woodline Partners LP grew its position in Quanta Services by 40.7% during the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company's stock valued at $3,170,000 after buying an additional 3,606 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Quanta Services during the second quarter worth about $4,632,000. Marshall Wace LLP bought a new stake in Quanta Services in the second quarter worth about $996,000. Finally, StoneX Group Inc. bought a new stake in Quanta Services in the second quarter worth about $204,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Quanta Services stock opened at $661.17 on Wednesday. The firm has a market capitalization of $99.22 billion, a P/E ratio of 90.70, a PEG ratio of 2.55 and a beta of 1.21. Quanta Services, Inc. has a one year low of $363.01 and a one year high of $788.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. The business has a fifty day moving average price of $710.96 and a 200-day moving average price of $595.12.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.64. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm's revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, equities research analysts forecast that Quanta Services, Inc. will post 12.8 EPS for the current year.

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

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. Quanta Services's dividend payout ratio is currently 6.04%.

Insider Transactions at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 25,992 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 in the company, valued at approximately $12,722,880.68. This trade represents a 61.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at approximately $6,116,398.40. This represents a 33.11% 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.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PWR. Oppenheimer raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 target price for the company in a research report on Thursday, May 28th. Citigroup lifted their price target on shares of Quanta Services from $640.00 to $733.00 and gave the stock a "buy" rating in a report on Monday, April 27th. JPMorgan Chase & Co. increased their price objective on Quanta Services from $627.00 to $805.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Zacks Research downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, B. Riley Financial restated a "neutral" rating on shares of Quanta Services in a research note on Friday, May 1st. Nineteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $751.86.

Quanta Services Company 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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