Meeder Asset Management Inc. Has $4.08 Million Holdings in Quanta Services, Inc. $PWR

Key Points

• Meeder Asset Management sharply increased its Quanta Services stake by 9,936.5% in the first quarter, ending with 7,427 shares valued at about $4.08 million.
• Wall Street sentiment remains upbeat: several firms raised price targets, and the stock now has a consensus “Moderate Buy” rating with a target price of about $751.86.
• Quanta Services reported strong quarterly results, with EPS of $2.68 and revenue of $7.87 billion, both beating expectations; the company also announced a $1 billion share buyback.

Meeder Asset Management Inc. lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 9,936.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,427 shares of the construction company's stock after acquiring an additional 7,353 shares during the period. Meeder Asset Management Inc.'s holdings in Quanta Services were worth $4,078,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PWR. Brighton Jones LLC bought a new stake in shares of Quanta Services in the fourth quarter valued at about $298,000. Woodline Partners LP boosted its position in Quanta Services by 40.7% during the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company's stock worth $3,170,000 after acquiring an additional 3,606 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Quanta Services during the 2nd quarter worth approximately $4,632,000. Marshall Wace LLP acquired a new stake in shares of Quanta Services in the second quarter valued at approximately $996,000. Finally, StoneX Group Inc. bought a new stake in shares of Quanta Services in the second quarter worth $204,000. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

PWR has been the subject of several recent research reports. Mizuho increased their target price on shares of Quanta Services from $580.00 to $693.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Stifel Nicolaus set a $784.00 price objective on shares of Quanta Services in a research note on Friday, May 1st. The Goldman Sachs Group raised their price objective on Quanta Services from $685.00 to $826.00 and gave the company a "buy" rating in a report on Monday, May 4th. Oppenheimer upgraded Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 target price on the stock in a report on Thursday, May 28th. Finally, Robert W. Baird raised their price target on Quanta Services from $606.00 to $777.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Nineteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $751.86.

Insider Activity

In related news, CAO Paul Nobel sold 4,000 shares of the company'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 transaction, the chief accounting officer owned 8,080 shares in the company, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the completion of the transaction, the chief executive officer directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 159,992 shares of company stock valued at $123,244,714 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Quanta Services Stock Performance

PWR opened at $628.11 on Monday. 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 12-month low of $363.01 and a 12-month high of $788.75. The business has a 50 day moving average of $703.48 and a 200-day moving average of $599.42. The stock has a market cap of $94.25 billion, a price-to-earnings ratio of 86.16, a PEG ratio of 2.47 and a beta of 1.21.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly 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 return on equity of 18.64% and a net margin of 3.67%.The business had revenue of $7.87 billion for the quarter, compared to analysts' expectations of $7 billion. During the same quarter in the prior year, the business earned $1.78 EPS. The firm's revenue for the quarter 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 expect that Quanta Services, Inc. will post 12.8 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were paid 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 was Wednesday, July 1st. Quanta Services's dividend payout ratio (DPR) is currently 6.04%.

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

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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