Fiduciary Alliance LLC Cuts Holdings in Quanta Services, Inc. $PWR

Key Points

• Fiduciary Alliance LLC trimmed its Quanta Services stake by 12.2% in Q1, selling 2,395 shares and ending with 17,294 shares valued at about $10.2 million.
• Insiders were net sellers over the past three months, including CEO Earl C. Jr. Austin and CAO Paul Nobel, with total insider sales reaching 159,992 shares worth about $123.2 million.
• Quanta Services reported strong quarterly results, beating EPS and revenue estimates, while analysts have turned increasingly bullish with several price target increases and a consensus target of $733.87.

Fiduciary Alliance LLC reduced its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,294 shares of the construction company's stock after selling 2,395 shares during the period. Fiduciary Alliance LLC's holdings in Quanta Services were worth $10,235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. State Street Corp increased its stake in Quanta Services by 2.1% in the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company's stock worth $2,619,626,000 after acquiring an additional 126,014 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Quanta Services by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company's stock worth $1,718,371,000 after acquiring an additional 110,360 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Quanta Services by 35.6% during the 3rd quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company's stock valued at $1,208,672,000 after acquiring an additional 765,822 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Quanta Services by 35.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company's stock valued at $1,230,493,000 after purchasing an additional 758,862 shares in the last quarter. Finally, Norges Bank bought a new stake in Quanta Services in the fourth quarter worth $817,285,000. 90.49% of the stock is owned by institutional investors.

Insider Transactions at Quanta Services

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the firm'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 sale, the chief accounting officer owned 8,080 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the business'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 value of $20,032,294.32. Following the transaction, the chief executive officer owned 16,508 shares of the company's stock, valued at $12,722,880.68. This trade represents a 61.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 159,992 shares of company stock worth $123,244,714 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on PWR. Cantor Fitzgerald upped their price target on shares of Quanta Services from $630.00 to $901.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Stifel Nicolaus set a $784.00 price objective on shares of Quanta Services in a research note on Friday, May 1st. Citigroup upped their target price on shares of Quanta Services from $640.00 to $733.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Weiss Ratings raised shares of Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. lifted their price target on Quanta Services from $627.00 to $805.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $733.87.

Quanta Services Stock Up 0.1%

Shares of PWR opened at $702.98 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $698.13 and a 200 day moving average of $571.80. The company has a market cap of $105.49 billion, a PE ratio of 96.43, a P/E/G ratio of 2.76 and a beta of 1.20. Quanta Services, Inc. has a 52-week low of $363.01 and a 52-week high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The business had revenue of $7.87 billion for the quarter, compared to analysts' expectations of $7 billion. During the same quarter in the previous year, the business posted $1.78 earnings per share. The business's 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. On average, sell-side analysts expect that Quanta Services, Inc. will post 12.82 EPS for the current year.

Quanta Services announced that its board has authorized a share repurchase program on Friday, May 22nd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, July 1st. Quanta Services's dividend payout ratio is presently 6.04%.

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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