Phoenix Financial Ltd. Reduces Stake in Quanta Services, Inc. $PWR

Key Points

• Phoenix Financial Ltd. cut its Quanta Services stake by 25.8% in the fourth quarter, leaving it with 5,187 shares worth about $2.19 million.
• Insiders have been selling shares aggressively: CEO Earl C. Jr. Austin and CAO Paul Nobel both reduced their holdings, and insiders have sold 159,992 shares worth about $123.2 million over the last 90 days.
• Quanta Services reported a strong quarter, with EPS of $2.68 versus the $2.04 estimate and revenue of $7.87 billion topping expectations; analysts remain bullish, with an average rating of Moderate Buy and an average target price of $708.05.

Phoenix Financial Ltd. lowered its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 25.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,187 shares of the construction company's stock after selling 1,802 shares during the quarter. Phoenix Financial Ltd.'s holdings in Quanta Services were worth $2,189,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at about $26,000. Activest Wealth Management increased its holdings in shares of Quanta Services by 94.1% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company's stock valued at $27,000 after acquiring an additional 32 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at about $28,000. Cornerstone Planning Group LLC increased its holdings in shares of Quanta Services by 213.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company's stock valued at $30,000 after acquiring an additional 49 shares during the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Insider Buying and Selling

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 value of $20,032,294.32. Following the sale, the chief executive officer directly owned 16,508 shares of the company's stock, valued at $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 159,992 shares of company stock valued at $123,244,714 over the last ninety days. 0.60% of the stock is owned by insiders.

Quanta Services Stock Down 1.3%

Shares of NYSE PWR opened at $769.63 on Friday. The stock has a market cap of $115.49 billion, a PE ratio of 105.57, a price-to-earnings-growth ratio of 2.68 and a beta of 1.24. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a 52-week low of $320.56 and a 52-week high of $788.75. The business has a 50-day moving average price of $616.07 and a 200 day moving average price of $519.19.

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 analysts' consensus estimates of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7 billion. During the same period in the prior year, the firm earned $1.78 EPS. The business's revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 12.84 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were given 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 was Thursday, April 2nd. Quanta Services's dividend payout ratio (DPR) is presently 6.04%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PWR shares. UBS Group increased their price objective on Quanta Services from $646.00 to $900.00 and gave the company a "buy" rating in a report on Monday, May 4th. B. Riley Financial reiterated a "neutral" rating on shares of Quanta Services in a report on Friday, May 1st. 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. Bank of America upped their target price on Quanta Services from $500.00 to $610.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. upped their target price on Quanta Services from $627.00 to $805.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. One research 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 MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average target price of $708.05.

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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