Alta Capital Management LLC Buys New Holdings in Quanta Services, Inc. $PWR

Key Points

• Alta Capital Management initiated a new position in Quanta Services, buying 3,992 shares valued at about $1.685 million in the fourth quarter.
• Quanta Services reported strong quarterly results, with EPS of $2.68 and revenue of $7.87 billion, both beating expectations and revenue rising 26.3% year over year.
• Despite the upbeat fundamentals, insiders have been selling shares, including the CEO and CAO, while analysts still rate the stock a Moderate Buy with an average price target of $708.05.

Alta Capital Management LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,992 shares of the construction company's stock, valued at approximately $1,685,000.

Other hedge funds have also bought and sold shares of the company. Mission Wealth Management LP raised its holdings in Quanta Services by 109.0% in the 4th quarter. Mission Wealth Management LP now owns 1,072 shares of the construction company's stock valued at $452,000 after acquiring an additional 559 shares during the period. Sapient Capital LLC bought a new position in Quanta Services in the 4th quarter valued at about $695,000. Chase Investment Counsel Corp bought a new position in Quanta Services in the 4th quarter valued at about $262,000. North Dakota State Investment Board bought a new position in Quanta Services in the 4th quarter valued at about $2,131,000. Finally, Elyxium Wealth LLC bought a new position in Quanta Services in the 4th quarter valued at about $34,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the firm'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 value of $3,027,920.00. Following the sale, the chief accounting officer owned 8,080 shares in the company, valued at $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $20,032,294.32. Following the completion of the sale, the chief executive officer owned 16,508 shares in the company, valued at $12,722,880.68. This represents a 61.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 159,992 shares of company stock worth $123,244,714 in the last 90 days. Company insiders own 0.60% of the company's stock.

Quanta Services Stock Performance

NYSE PWR opened at $723.01 on Tuesday. 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 firm has a market capitalization of $108.49 billion, a price-to-earnings ratio of 99.18, a P/E/G ratio of 2.64 and a beta of 1.24. The firm's 50 day simple moving average is $619.54 and its 200 day simple moving average is $521.74. Quanta Services, Inc. has a 1 year low of $320.56 and a 1 year high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.64. The business had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The firm's revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 12.84 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were given a $0.11 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 6.04%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PWR. Weiss Ratings cut shares of Quanta Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. DA Davidson raised their target price on shares of Quanta Services from $450.00 to $575.00 and gave the stock a "neutral" rating in a report on Friday, February 20th. Sanford C. Bernstein raised 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. Cantor Fitzgerald raised their target price on shares of Quanta Services from $630.00 to $901.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Finally, Evercore raised their target price on shares of Quanta Services from $635.00 to $800.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $708.05.

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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