Avalon Trust Co Sells 33,094 Shares of Quanta Services, Inc. $PWR

Key Points

• Avalon Trust Co cut its Quanta Services stake by 35.3% in the first quarter, selling 33,094 shares and leaving it with 60,570 shares valued at about $33.3 million.
• Insider selling was notable, with CAO Paul Nobel and CEO Earl C. Jr. Austin both selling shares in May; insiders sold about 159,992 shares worth $123.2 million over the last three months.
• Quanta Services posted strong results and upbeat guidance, beating quarterly EPS and revenue estimates, while analysts remain positive with a consensus “Moderate Buy” rating and a target price of $751.86.

Avalon Trust Co decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 35.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,570 shares of the construction company's stock after selling 33,094 shares during the period. Quanta Services makes up approximately 2.3% of Avalon Trust Co's holdings, making the stock its 10th largest position. Avalon Trust Co's holdings in Quanta Services were worth $33,254,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Cedar Mountain Advisors LLC lifted its position in Quanta Services by 321.4% during the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company's stock worth $25,000 after acquiring an additional 45 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Quanta Services in the second quarter valued at approximately $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Quanta Services during the fourth quarter worth approximately $28,000. MV Capital Management Inc. acquired a new stake in shares of Quanta Services during the fourth quarter worth $30,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Quanta Services by 221.7% during the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company's stock worth $31,000 after purchasing an additional 51 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the company's stock in a transaction on Monday, May 4th. The stock was 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 of the company's stock, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm's stock in a transaction 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 owned 16,508 shares of the company's stock, valued at approximately $12,722,880.68. This represents a 61.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 159,992 shares of company stock worth $123,244,714 in the last three months. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PWR has been the topic of a number of recent analyst reports. B. Riley Financial reiterated a "neutral" rating on shares of Quanta Services in a research note on Friday, May 1st. BMO Capital Markets raised their price objective on shares of Quanta Services from $650.00 to $800.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. Mizuho lifted their price objective on Quanta Services from $580.00 to $693.00 and gave the company a "neutral" rating in a report on Friday, May 1st. CICC Research initiated coverage on Quanta Services in a research report on Thursday, May 21st. They set an "outperform" rating and a $872.00 target price on the stock. Finally, Citigroup raised their price target on Quanta Services from $640.00 to $733.00 and gave the company a "buy" rating in a 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $751.86.

Quanta Services Trading Down 2.9%

Shares of Quanta Services stock opened at $630.09 on Friday. The company has a 50-day moving average of $705.81 and a two-hundred day moving average of $598.03. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month 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 $94.55 billion, a PE ratio of 86.43, a price-to-earnings-growth ratio of 2.55 and a beta of 1.21.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 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 return on equity of 18.64% and a net margin of 3.67%.The company's quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, research analysts anticipate that Quanta Services, Inc. will post 12.8 EPS for the current fiscal year.

Quanta Services declared that its Board of Directors has initiated a share repurchase program on Friday, May 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

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. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, July 1st. Quanta Services's payout ratio is presently 6.04%.

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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