Moran Wealth Management LLC Trims Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Moran Wealth Management cut its Quanta Services stake by 23.6% in the first quarter, leaving it with 33,379 shares worth about $18.3 million.
• Wall Street sentiment remains bullish overall, with several analysts raising ratings and price targets; the consensus rating is Moderate Buy and the average target price is $755.18.
• Quanta Services posted strong quarterly results, beating EPS and revenue estimates, while also announcing a $1 billion share repurchase program and a small quarterly dividend.

Moran Wealth Management LLC decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 23.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,379 shares of the construction company's stock after selling 10,306 shares during the quarter. Moran Wealth Management LLC's holdings in Quanta Services were worth $18,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in PWR. Cedar Mountain Advisors LLC grew its position in shares of Quanta Services by 321.4% in the fourth quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company's stock valued at $25,000 after purchasing an additional 45 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Quanta Services during the 2nd quarter worth about $26,000. Flagship Harbor Advisors LLC bought a new position in Quanta Services in the 4th quarter worth about $28,000. MV Capital Management Inc. bought a new position in Quanta Services in the 4th quarter worth about $30,000. Finally, Meeder Asset Management Inc. grew its holdings in Quanta Services by 221.7% during the 4th quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company's stock valued at $31,000 after buying an additional 51 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PWR shares. Oppenheimer raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price target on the stock in a report on Thursday, May 28th. Weiss Ratings raised shares of Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 20th. Zacks Research upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 8th. Evercore raised their price target on shares of Quanta Services from $635.00 to $800.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Finally, Roth Mkm boosted their price target on shares of Quanta Services from $600.00 to $650.00 and gave the company a "buy" rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $755.18.

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.

Quanta Services Stock Down 0.1%

PWR stock opened at $667.73 on Friday. 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's 50 day moving average is $711.52 and its 200 day moving average is $582.63. The stock has a market cap of $100.20 billion, a price-to-earnings ratio of 91.60, a price-to-earnings-growth ratio of 2.63 and a beta of 1.21. Quanta Services, Inc. has a 1-year low of $363.01 and a 1-year high of $788.75.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $7 billion. During the same period in the previous year, the business posted $1.78 earnings per share. Quanta Services'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. Sell-side analysts predict that Quanta Services, Inc. will post 12.81 EPS 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 of Directors has approved a share repurchase plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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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