PFG Investments LLC Acquires 2,470 Shares of Quanta Services, Inc. $PWR

Key Points

• PFG Investments LLC boosted its Quanta Services stake by 262.2% in the first quarter, buying 2,470 additional shares and bringing its total to 3,412 shares worth about $1.87 million.
• Quanta Services reported strong quarterly results, with EPS of $2.68 and revenue of $7.87 billion, both beating estimates; revenue rose 26.3% year over year.
• The company also approved a $1 billion share buyback and declared a quarterly dividend of $0.11 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy.

PFG Investments LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 262.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,412 shares of the construction company's stock after buying an additional 2,470 shares during the period. PFG Investments LLC's holdings in Quanta Services were worth $1,873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC raised its stake in shares of Quanta Services by 321.4% during the fourth 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. Darwin Wealth Management LLC bought a new stake in shares of Quanta Services in the second quarter worth $26,000. Flagship Harbor Advisors LLC acquired a new stake in Quanta Services in the fourth quarter valued at $28,000. MV Capital Management Inc. bought a new position in Quanta Services during the 4th quarter worth $30,000. Finally, Meeder Asset Management Inc. raised its position in Quanta Services by 221.7% during the 4th quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company's stock worth $31,000 after purchasing an additional 51 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 0.1%

NYSE:PWR opened at $667.73 on Friday. Quanta Services, Inc. has a 12 month low of $363.01 and a 12 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 stock has a market capitalization of $100.20 billion, a price-to-earnings ratio of 91.60, a PEG ratio of 2.63 and a beta of 1.21. The firm has a fifty day simple moving average of $711.52 and a two-hundred day simple moving average of $582.63.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.64. The firm had revenue of $7.87 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Analysts expect that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services announced that its board has approved a stock repurchase program on Friday, May 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Quanta Services's dividend payout ratio is 6.04%.

Insider Buying and Selling

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total value of $20,032,294.32. Following the completion of the sale, the chief executive officer owned 16,508 shares of the company's stock, valued at approximately $12,722,880.68. This trade represents a 61.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the business's stock in a transaction on 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 owned 8,080 shares of the company's stock, valued at $6,116,398.40. This trade represents a 33.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 159,992 shares of company stock valued at $123,244,714 in the last three months. Insiders own 0.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Quanta Services from $627.00 to $805.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. B. Riley Financial reiterated a "neutral" rating on shares of Quanta Services in a report on Friday, May 1st. Truist Financial increased their target price on shares of Quanta Services from $851.00 to $940.00 and gave the company a "buy" rating in a research report on Thursday. Finally, BMO Capital Markets boosted their price target on shares of Quanta Services from $650.00 to $800.00 and gave the stock an "outperform" rating 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 six have assigned a Hold rating to the company. According to MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $755.18.

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.

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