NewEdge Wealth LLC Purchases 1,950 Shares of Quanta Services, Inc. $PWR

Key Points

• NewEdge Wealth LLC increased its stake in Quanta Services by 170.2% in the fourth quarter, buying 1,950 more shares to bring its total holdings to 3,096 shares worth about $1.31 million.
• Quanta Services reported strong quarterly earnings, posting EPS of $2.68 versus the expected $2.04 and revenue of $7.87 billion, topping analyst estimates. Revenue rose 26.3% year over year, and the company issued FY 2026 EPS guidance of 13.55 to 14.25.
• Analyst sentiment remains generally positive, with a consensus rating of Moderate Buy and an average price target of $708.05, though Weiss Ratings recently downgraded the stock to Hold. Meanwhile, several insiders sold shares, including CEO Earl C. Jr. Austin, who sold 130,000 shares for about $100.2 million.

NewEdge Wealth LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 170.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,096 shares of the construction company's stock after buying an additional 1,950 shares during the quarter. NewEdge Wealth LLC's holdings in Quanta Services were worth $1,307,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PWR. Sunburst Financial Group LLC raised its holdings in shares of Quanta Services by 2.0% in the 4th quarter. Sunburst Financial Group LLC now owns 1,147 shares of the construction company's stock valued at $484,000 after purchasing an additional 22 shares in the last quarter. Spirepoint Private Client LLC increased its position in shares of Quanta Services by 2.0% during the fourth quarter. Spirepoint Private Client LLC now owns 1,107 shares of the construction company's stock worth $467,000 after purchasing an additional 22 shares in the last quarter. Vista Capital Partners Inc. lifted its holdings in shares of Quanta Services by 3.1% during the 4th quarter. Vista Capital Partners Inc. now owns 742 shares of the construction company's stock valued at $313,000 after purchasing an additional 22 shares during the last quarter. Headinvest LLC lifted its holdings in shares of Quanta Services by 2.2% during the 4th quarter. Headinvest LLC now owns 1,001 shares of the construction company's stock valued at $422,000 after purchasing an additional 22 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in shares of Quanta Services by 0.5% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 4,750 shares of the construction company's stock worth $1,968,000 after purchasing an additional 23 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the topic of several recent analyst reports. Wolfe Research upped their target price on Quanta Services from $477.00 to $576.00 and gave the company an "outperform" rating in a research report on Friday, February 20th. Truist Financial set a $851.00 price target on Quanta Services in a research note on Friday, May 1st. Weiss Ratings downgraded shares of Quanta Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. DA Davidson boosted their target price on shares of Quanta Services from $450.00 to $575.00 and gave the stock a "neutral" rating in a research report on Friday, February 20th. Finally, The Goldman Sachs Group raised their price target on shares of Quanta Services from $685.00 to $826.00 and gave the stock a "buy" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $708.05.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $774.65 on Thursday. Quanta Services, Inc. has a twelve month low of $320.56 and a twelve 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 $116.24 billion, a PE ratio of 106.26, a price-to-earnings-growth ratio of 2.63 and a beta of 1.24. The company's 50 day moving average is $607.77 and its 200 day moving average is $515.04.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.04 by $0.64. The business had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The business's quarterly revenue was up 26.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, sell-side analysts forecast that Quanta Services, Inc. will post 12.84 EPS for the current year.

Quanta Services Dividend Announcement

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

Insider Transactions at Quanta Services

In related news, CAO Paul Nobel sold 4,000 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the sale, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction that occurred on 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 directly owned 556,911 shares of the company's stock, valued at $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 159,992 shares of company stock valued at $123,244,714 in the last quarter. Company insiders own 0.60% of the company's stock.

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.

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.