NewEdge Advisors LLC Sells 16,508 Shares of Quanta Services, Inc. $PWR

Key Points

• NewEdge Advisors cut its Quanta Services position by 79%, selling 16,508 shares and retaining 4,383 shares valued at approximately $2.4 million. Institutional investors collectively own 90.49% of PWR.
• Analysts remain broadly positive, with an average rating of “Moderate Buy” and an average price target of $769.25; several firms recently set targets between $728 and $800.
• Quanta reported strong quarterly results, including $4.24 in earnings per share and $9.56 billion in revenue, while revenue increased 41.1% year over year. The company also approved a $1 billion share-repurchase program and pays a $0.11 quarterly dividend.

NewEdge Advisors LLC decreased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 79.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,383 shares of the construction company's stock after selling 16,508 shares during the quarter. NewEdge Advisors LLC's holdings in Quanta Services were worth $2,406,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Boreal Capital Management LLC acquired a new position in Quanta Services in the first quarter valued at $27,000. Cedar Mountain Advisors LLC raised its position in shares of Quanta Services by 321.4% in 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 in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Quanta Services in the 2nd quarter valued at about $26,000. MV Capital Management Inc. bought a new stake in shares of Quanta Services during the 4th quarter valued at about $30,000. Finally, Brown Lisle Cummings Inc. grew its stake in Quanta Services by 825.0% during the first quarter. Brown Lisle Cummings Inc. now owns 74 shares of the construction company's stock worth $41,000 after purchasing an additional 66 shares during the period. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of research analyst reports. Oppenheimer upgraded 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. Evercore increased their target price on shares of Quanta Services from $635.00 to $800.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Cantor Fitzgerald assumed coverage on shares of Quanta Services in a report on Friday, July 31st. They issued an "outperform" rating for the company. Stifel Nicolaus set a $784.00 price objective on shares of Quanta Services in a report on Friday, May 1st. Finally, Robert W. Baird set a $728.00 price objective on shares of Quanta Services in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $769.25.

Quanta Services Trading Up 2.0%

Shares of PWR stock opened at $685.99 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 0.56. The firm has a market cap of $103.13 billion, a P/E ratio of 78.58, a PEG ratio of 2.21 and a beta of 1.23. The company has a 50 day moving average of $672.18 and a 200-day moving average of $627.60. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $4.24 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.93. Quanta Services had a return on equity of 20.55% and a net margin of 4.03%.The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.61 billion. During the same period in the prior year, the company earned $2.48 earnings per share. Quanta Services's revenue was up 41.1% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 15.33 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. Quanta Services's payout ratio is 5.04%.

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

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.

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source