Glenview Trust Co Acquires 1,687 Shares of Quanta Services, Inc. $PWR

Key Points

• Glenview Trust Co boosted its Quanta Services stake by 11.4% in the fourth quarter, buying 1,687 shares and bringing its total to 16,460 shares worth about $6.95 million.
• Quanta Services reported strong quarterly results, with EPS of $2.68 topping estimates and revenue of $7.87 billion exceeding expectations, while revenue rose 26.3% year over year.
• The company also announced a $1 billion share buyback and a small quarterly dividend of $0.11 per share, even as top executives recently sold shares and analysts kept mostly bullish ratings.

Glenview Trust Co increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 16,460 shares of the construction company's stock after buying an additional 1,687 shares during the quarter. Glenview Trust Co's holdings in Quanta Services were worth $6,947,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. New Age Alpha Advisors LLC bought a new stake in Quanta Services in the 4th quarter worth about $191,000. Atticus Wealth Management LLC bought a new stake in Quanta Services in the 4th quarter worth about $201,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Quanta Services in the 4th quarter worth about $1,760,000. Darden Wealth Group Inc increased its holdings in Quanta Services by 18.1% in the 4th quarter. Darden Wealth Group Inc now owns 1,700 shares of the construction company's stock worth $718,000 after buying an additional 260 shares in the last quarter. Finally, MQS Management LLC bought a new stake in Quanta Services in the 4th quarter worth about $271,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Down 0.1%

PWR stock opened at $722.60 on Tuesday. Quanta Services, Inc. has a twelve month low of $326.89 and a twelve month high of $788.75. 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 stock has a market cap of $108.43 billion, a P/E ratio of 99.12, a PEG ratio of 2.48 and a beta of 1.24. The business's 50-day moving average price is $635.13 and its 200-day moving average price is $531.21.

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 return on equity of 18.64% and a net margin of 3.67%.The firm had revenue of $7.87 billion for the quarter, compared to analysts' expectations of $7 billion. During the same period in the previous year, the firm earned $1.78 EPS. The business's quarterly revenue 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, equities research analysts forecast that Quanta Services, Inc. will post 12.84 EPS for the current year.

Quanta Services declared that its board has approved a share buyback 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 repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Quanta Services Announces Dividend

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

Insider Transactions at Quanta Services

In other news, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $756.98, for a total transaction 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. The trade was a 33.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total value of $100,184,500.00. Following the transaction, the chief executive officer directly owned 556,911 shares in the company, valued at approximately $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 159,992 shares of company stock worth $123,244,714. Insiders own 0.60% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on PWR. TD Cowen lifted their price objective on Quanta Services from $570.00 to $775.00 and gave the stock a "buy" rating in a report on Monday, May 4th. UBS Group raised their target price on Quanta Services from $646.00 to $900.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Roth Mkm raised their target price on Quanta Services from $600.00 to $650.00 and gave the stock a "buy" rating in a research report on Monday, April 6th. Evercore raised their target price on Quanta Services from $635.00 to $800.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Finally, Cantor Fitzgerald raised their target price on Quanta Services from $630.00 to $901.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $715.17.

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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