HighTower Advisors LLC Sells 2,609 Shares of Quanta Services, Inc. $PWR

Key Points

• HighTower Advisors LLC trimmed its Quanta Services stake by 1.6% in the fourth quarter, selling 2,609 shares and ending with 165,337 shares valued at about $69.8 million.
• Quanta Services reported strong quarterly results, posting EPS of $2.68 versus the $2.04 consensus and revenue of $7.87 billion, up 26.3% year over year.
• Insider selling and analyst sentiment were notable: CEO Earl Austin and CAO Paul Nobel sold shares recently, while analysts currently rate the stock a “Moderate Buy” with an average price target of $708.05.

HighTower Advisors LLC reduced its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,337 shares of the construction company's stock after selling 2,609 shares during the quarter. HighTower Advisors LLC owned approximately 0.11% of Quanta Services worth $69,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Quanta Services by 2.2% in the third quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company's stock worth $7,519,079,000 after purchasing an additional 386,937 shares during the period. State Street Corp grew its position in shares of Quanta Services by 1.2% during the third quarter. State Street Corp now owns 6,080,747 shares of the construction company's stock worth $2,519,983,000 after purchasing an additional 73,460 shares in the last quarter. Bank of America Corp DE grew its position in shares of Quanta Services by 35.6% during the third quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company's stock worth $1,208,672,000 after purchasing an additional 765,822 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Quanta Services by 8.8% during the third quarter. Victory Capital Management Inc. now owns 2,156,578 shares of the construction company's stock worth $893,139,000 after purchasing an additional 174,083 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Quanta Services by 5.4% during the third quarter. Invesco Ltd. now owns 1,805,239 shares of the construction company's stock worth $748,127,000 after purchasing an additional 93,290 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Down 0.7%

Shares of PWR opened at $708.94 on Thursday. The stock has a market capitalization of $106.38 billion, a price-to-earnings ratio of 97.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. Quanta Services, Inc. has a 1 year low of $320.56 and a 1 year high of $788.75. The business's 50 day simple moving average is $625.85 and its 200-day simple moving average is $525.41. 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 (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.64. The business had revenue of $7.87 billion for the quarter, compared to analysts' expectations of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The company's revenue for the quarter was up 26.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, equities analysts expect that Quanta Services, Inc. will post 12.84 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Thursday, April 2nd were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is presently 6.04%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. DA Davidson increased their target price on Quanta Services from $450.00 to $575.00 and gave the stock a "neutral" rating in a research report on Friday, February 20th. B. Riley Financial reiterated a "neutral" rating on shares of Quanta Services in a research report on Friday, May 1st. Roth Mkm increased 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. Zacks Research upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, May 8th. Finally, BNP Paribas Exane initiated coverage on shares of Quanta Services in a report on Tuesday, April 14th. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $708.05.

Insider Transactions at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the 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 completion of the transaction, the chief executive officer owned 556,911 shares of the company's stock, valued at approximately $429,183,462.15. This trade represents a 18.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the stock in a transaction dated 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 approximately $6,116,398.40. The trade was a 33.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is owned by insiders.

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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