Electron Capital Partners LLC Decreases Holdings in Quanta Services, Inc. $PWR

Key Points

• Electron Capital Partners cut its Quanta Services stake by 94.8% in the first quarter, selling 170,234 shares and retaining 9,408 shares worth approximately $5.2 million. Institutional investors collectively own 90.49% of PWR.
• Quanta Services reported strong quarterly results, with revenue rising 26.3% year over year to $7.87 billion and EPS of $2.68 versus the $2.04 consensus estimate. The company also authorized a $1 billion stock buyback, equivalent to up to 0.9% of outstanding shares.
• PWR was trading at $619.98, below its $745.55 average analyst price target; analysts maintain a “Moderate Buy” consensus. Meanwhile, company insiders sold 159,992 shares worth about $123.2 million over the past 90 days.

Electron Capital Partners LLC trimmed its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 94.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,408 shares of the construction company's stock after selling 170,234 shares during the quarter. Electron Capital Partners LLC's holdings in Quanta Services were worth $5,165,000 at the end of the most recent quarter.

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

Quanta Services Stock Performance

NYSE:PWR opened at $619.98 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a twelve month low of $363.01 and a twelve month high of $788.75. The stock has a market cap of $93.03 billion, a P/E ratio of 85.05, a price-to-earnings-growth ratio of 2.46 and a beta of 1.21. The firm's fifty day simple moving average is $687.90 and its 200 day simple moving average is $608.07.

Quanta Services (NYSE:PWR - Get Free Report) last posted its 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. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The firm had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7 billion. During the same period last year, the company posted $1.78 EPS. The company's quarterly revenue was up 26.3% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 12.8 EPS for the current year.

Quanta Services declared that its board has initiated a stock buyback plan on Friday, May 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board believes its shares are undervalued.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors 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 payout ratio is currently 6.04%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction on Tuesday, May 5th. The stock was 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 in the company, valued at approximately $12,722,880.68. This represents a 61.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Paul Nobel sold 4,000 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at $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 ninety days, insiders sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on PWR. Wall Street Zen cut Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday. Stifel Nicolaus set a $784.00 target price on shares of Quanta Services in a report on Friday, May 1st. Jefferies Financial Group lowered their price target on shares of Quanta Services from $857.00 to $784.00 and set a "buy" rating for the company in a report on Friday, July 10th. Roth Capital raised their price target on shares of Quanta Services from $600.00 to $650.00 and gave the stock a "buy" rating in a report on Monday, April 6th. Finally, Zacks Research cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Seventeen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $745.55.

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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