Lmcg Investments LLC Sells 3,819 Shares of Quanta Services, Inc. $PWR

Key Points

• Lmcg Investments LLC trimmed its Quanta Services stake by 9.3% in the first quarter, selling 3,819 shares and leaving it with 37,383 shares valued at about $20.5 million.
• Analysts remain bullish on PWR, with several firms raising price targets; MarketBeat says the stock now has an average rating of Moderate Buy and an average target price of $755.18.
• Quanta Services reported strong quarterly results, beating earnings and revenue estimates, while also announcing a $1 billion share buyback and a quarterly dividend of $0.11 per share.

Lmcg Investments LLC reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,383 shares of the construction company's stock after selling 3,819 shares during the period. Quanta Services comprises 1.2% of Lmcg Investments LLC's investment portfolio, making the stock its 20th biggest position. Lmcg Investments LLC's holdings in Quanta Services were worth $20,524,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC grew its stake in shares of Quanta Services by 321.4% during the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company's stock worth $25,000 after acquiring an additional 45 shares during the period. Darwin Wealth Management LLC purchased a new stake in Quanta Services during the second quarter valued at about $26,000. Flagship Harbor Advisors LLC purchased a new stake in Quanta Services during the fourth quarter valued at about $28,000. MV Capital Management Inc. bought a new position in Quanta Services during the fourth quarter worth about $30,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Quanta Services by 221.7% in the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company's stock worth $31,000 after purchasing an additional 51 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on PWR shares. Robert W. Baird upped their price target on shares of Quanta Services from $606.00 to $777.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Wall Street Zen upgraded Quanta Services from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Sanford C. Bernstein lifted their price target on Quanta Services from $538.00 to $725.00 and gave the company a "market perform" rating in a research report on Tuesday, May 5th. BMO Capital Markets increased their price objective on Quanta Services from $650.00 to $800.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on Quanta Services from $627.00 to $805.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $755.18.

Quanta Services Stock Performance

Shares of PWR opened at $656.48 on Wednesday. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. The company has a market cap of $98.51 billion, a PE ratio of 90.05, a price-to-earnings-growth ratio of 2.65 and a beta of 1.21. The stock has a 50-day moving average price of $712.92 and a 200-day moving average price of $587.03.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results 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 the consensus estimate of $7 billion. During the same period last year, the firm posted $1.78 earnings per share. Quanta Services'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. As a group, equities analysts forecast that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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 issued 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 currently 6.04%.

Quanta Services declared that its board has approved a stock repurchase program on Friday, May 22nd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Quanta Services

In other news, CAO Paul Nobel sold 4,000 shares of the company's stock in a transaction dated Monday, May 4th. The stock was 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 in the company, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief executive officer owned 556,911 shares in the company, valued at $429,183,462.15. This trade represents a 18.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,992 shares of company stock valued at $123,244,714 over the last quarter. 0.60% of the stock is owned by company insiders.

About Quanta Services

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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