Bradley Foster & Sargent Inc. CT Sells 4,754 Shares of Quanta Services, Inc. $PWR

Key Points

• Bradley Foster & Sargent Inc. CT reduced its Quanta Services stake by 4.7% in the first quarter, selling 4,754 shares and leaving it with 96,462 shares valued at about $52.96 million.
• Quanta Services beat earnings and revenue expectations for its latest quarter, reporting $2.68 EPS on $7.87 billion in revenue, while revenue rose 26.3% year over year.
• The company also authorized a $1 billion share buyback and paid a quarterly dividend of $0.11 per share, though its dividend yield remains very low at 0.1%.

Bradley Foster & Sargent Inc. CT trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 96,462 shares of the construction company's stock after selling 4,754 shares during the period. Bradley Foster & Sargent Inc. CT owned approximately 0.06% of Quanta Services worth $52,960,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PWR. Bartlett & CO. Wealth Management LLC increased its position in Quanta Services by 2.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company's stock valued at $282,000 after buying an additional 13 shares in the last quarter. Pincus Capital Management LP boosted its holdings in Quanta Services by 0.4% in the first quarter. Pincus Capital Management LP now owns 3,690 shares of the construction company's stock worth $2,026,000 after acquiring an additional 15 shares in the last quarter. SouthState Bank Corp boosted its holdings in Quanta Services by 23.5% in the first quarter. SouthState Bank Corp now owns 84 shares of the construction company's stock worth $46,000 after acquiring an additional 16 shares in the last quarter. Lewis Asset Management LLC grew its stake in shares of Quanta Services by 2.5% in the first quarter. Lewis Asset Management LLC now owns 692 shares of the construction company's stock worth $380,000 after acquiring an additional 17 shares during the last quarter. Finally, Stiles Financial Services Inc grew its stake in shares of Quanta Services by 1.8% in the first quarter. Stiles Financial Services Inc now owns 987 shares of the construction company's stock worth $542,000 after acquiring an additional 17 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Down 4.2%

Quanta Services stock opened at $626.03 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. Quanta Services, Inc. has a one year low of $363.01 and a one year high of $788.75. The stock has a market capitalization of $93.94 billion, a PE ratio of 85.88, a price-to-earnings-growth ratio of 2.46 and a beta of 1.21. The business's fifty day moving average is $689.96 and its 200 day moving average is $605.59.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the company earned $1.78 EPS. Quanta Services's revenue for the quarter 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, sell-side analysts predict that Quanta Services, Inc. will post 12.8 EPS for the current year.

Quanta Services announced that its Board of Directors has approved a stock buyback program on Friday, May 22nd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Quanta Services Dividend Announcement

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

Insider Activity at Quanta Services

In other news, 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 completion of the transaction, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at $6,116,398.40. The trade was 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 available at the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the transaction, the chief executive officer owned 556,911 shares in the company, valued at approximately $429,183,462.15. This trade represents a 18.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,992 shares of company stock valued at $123,244,714 over the last three months. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PWR. Citigroup lifted their price target on Quanta Services from $640.00 to $733.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Truist Financial raised their price objective on shares of Quanta Services from $851.00 to $940.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Evercore lifted 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. Roth Capital upped their target price 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. Finally, TD Cowen increased their price target on shares of Quanta Services from $570.00 to $775.00 and gave the company a "buy" rating in a report on Monday, May 4th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $745.55.

About Quanta Services

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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