Orange Investment Advisors Inc. Reduces Position in Quanta Services, Inc. $PWR

Key Points

• Orange Investment Advisors cut its Quanta Services stake by 22.2% in Q1, selling 2,540 shares and leaving it with 8,886 shares valued at about $4.88 million.
• Quanta Services posted strong quarterly results, with EPS of $2.68 beating estimates by $0.64 and revenue of $7.87 billion topping forecasts; revenue rose 26.3% from a year earlier.
• The company announced a $1 billion share repurchase plan and a small quarterly dividend of $0.11 per share, while analysts remain broadly positive with a consensus Moderate Buy rating and average price target of $733.87.

Orange Investment Advisors Inc. trimmed its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 22.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,886 shares of the construction company's stock after selling 2,540 shares during the period. Orange Investment Advisors Inc.'s holdings in Quanta Services were worth $4,879,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC raised its holdings in Quanta Services by 321.4% in the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company's stock valued at $25,000 after acquiring an additional 45 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Quanta Services during the 4th quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new stake in shares of Quanta Services in the second quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $30,000. Finally, Brown Lisle Cummings Inc. increased its holdings in shares of Quanta Services by 825.0% in the first quarter. Brown Lisle Cummings Inc. now owns 74 shares of the construction company's stock valued at $41,000 after purchasing an additional 66 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 0.2%

Shares of PWR stock opened at $686.73 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. The firm has a market cap of $103.05 billion, a PE ratio of 94.20, a price-to-earnings-growth ratio of 2.71 and a beta of 1.20. The company has a 50-day moving average of $702.52 and a two-hundred day moving average of $575.19. 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 issued its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping 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 firm had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the business posted $1.78 EPS. The business's revenue for the quarter was up 26.3% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, analysts predict that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a 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 announced that its board has initiated a share repurchase plan on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PWR shares. Sanford C. Bernstein boosted their price objective on Quanta Services from $538.00 to $725.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 5th. Cantor Fitzgerald raised their target price on Quanta Services from $630.00 to $901.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. CICC Research initiated coverage on shares of Quanta Services in a research report on Thursday, May 21st. They set an "outperform" rating and a $872.00 price target on the stock. Oppenheimer raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price objective for the company in a report on Thursday, May 28th. Finally, B. Riley Financial restated a "neutral" rating on shares of Quanta Services in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $733.87.

Insider Transactions at Quanta Services

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the business's stock in a transaction dated Monday, May 4th. The shares were 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 in the company, valued at $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the sale, the chief executive officer owned 16,508 shares in the company, valued at approximately $12,722,880.68. This trade represents a 61.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,992 shares of company stock worth $123,244,714 over the last quarter. Insiders own 0.60% of the company's stock.

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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