Cerity Partners LLC Has $80.25 Million Position in Quanta Services, Inc. $PWR

Key Points

• Cerity Partners LLC increased its Quanta Services stake by 33.1% in the fourth quarter, ending with 190,143 shares worth about $80.25 million.
• Quanta Services reported strong quarterly results, with EPS of $2.68 beating estimates and revenue of $7.87 billion topping forecasts; revenue rose 26.3% year over year.
• The company’s board approved a $1 billion share repurchase program, while analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $733.87.

Cerity Partners LLC grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 33.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 190,143 shares of the construction company's stock after purchasing an additional 47,247 shares during the quarter. Cerity Partners LLC owned about 0.13% of Quanta Services worth $80,252,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of Quanta Services during the fourth quarter worth $298,000. Woodline Partners LP raised its position in shares of Quanta Services by 40.7% during the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company's stock worth $3,170,000 after acquiring an additional 3,606 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Quanta Services during the second quarter worth $4,632,000. Marshall Wace LLP bought a new stake in shares of Quanta Services during the second quarter worth $996,000. Finally, StoneX Group Inc. bought a new stake in shares of Quanta Services during the second quarter worth $204,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Insider Transactions at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total value of $100,184,500.00. Following the completion of the transaction, the chief executive officer directly owned 556,911 shares of the company's stock, valued at approximately $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the business'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 transaction, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 159,992 shares of company stock valued at $123,244,714. Insiders own 0.60% of the company's stock.

Quanta Services Trading Down 0.3%

NYSE PWR opened at $691.41 on Wednesday. The stock has a 50-day simple moving average of $667.21 and a 200 day simple moving average of $552.14. The company has a market capitalization of $103.75 billion, a PE ratio of 94.84, a P/E/G ratio of 2.73 and a beta of 1.20. 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, Inc. has a 12 month low of $341.93 and a 12 month high of $788.75.

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, beating analysts' consensus estimates of $2.04 by $0.64. The business had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm's revenue was up 26.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Research analysts forecast that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services declared that its board has initiated a share repurchase plan on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Quanta Services's payout ratio is presently 6.04%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Argus boosted their target price on Quanta Services from $540.00 to $650.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Weiss Ratings upgraded Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 20th. B. Riley Financial restated a "neutral" rating on shares of Quanta Services in a research report on Friday, May 1st. BNP Paribas Exane initiated coverage on Quanta Services in a research report on Tuesday, April 14th. They set a "neutral" rating for the company. Finally, Roth Mkm upped their price objective on Quanta Services from $600.00 to $650.00 and gave the company a "buy" rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $733.87.

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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