Quanta Services, Inc. $PWR Holdings Reduced by Applied Finance Capital Management LLC

Key Points

• Applied Finance Capital Management cut its Quanta Services stake by 9.0% in the first quarter, leaving it with 40,190 shares valued at about $22.1 million.
• Quanta Services insiders have also been selling shares, including CEO Earl C. Jr. Austin and CAO Paul Nobel; 159,992 shares have been sold by insiders over the last 90 days.
• The company topped quarterly expectations, reporting $2.68 EPS on $7.87 billion in revenue, and its board approved a $1 billion share repurchase plan while analysts maintain a Moderate Buy consensus.

Applied Finance Capital Management LLC lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,190 shares of the construction company's stock after selling 3,961 shares during the quarter. Quanta Services comprises approximately 1.7% of Applied Finance Capital Management LLC's investment portfolio, making the stock its 21st biggest holding. Applied Finance Capital Management LLC's holdings in Quanta Services were worth $22,065,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cedar Mountain Advisors LLC increased its position 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 period. Darwin Wealth Management LLC acquired a new position in Quanta Services during the 2nd quarter worth $26,000. Flagship Harbor Advisors LLC acquired a new position in Quanta Services during the 4th quarter worth $28,000. MV Capital Management Inc. acquired a new position in shares of Quanta Services during the fourth quarter valued at $30,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Quanta Services by 221.7% during the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company's stock valued at $31,000 after purchasing an additional 51 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the completion of the sale, the chief executive officer directly 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. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services 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 transaction, the chief accounting officer owned 8,080 shares in the company, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,992 shares of company stock valued at $123,244,714 over the last 90 days. 0.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PWR has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Quanta Services from $640.00 to $733.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Oppenheimer upgraded shares of Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price target on the stock in a research report on Thursday, May 28th. TD Cowen upped their price target on shares of Quanta Services from $570.00 to $775.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. BNP Paribas Exane started coverage on shares of Quanta Services in a report on Tuesday, April 14th. They issued a "neutral" rating for the company. Finally, CICC Research initiated coverage on Quanta Services in a report on Thursday, May 21st. They set an "outperform" rating and a $872.00 target price on the stock. Nineteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $751.86.

Quanta Services Price Performance

NYSE:PWR opened at $657.97 on Monday. The business's 50-day moving average price is $714.79 and its 200 day moving average price is $592.03. The firm has a market cap of $98.73 billion, a P/E ratio of 90.26, a PEG ratio of 2.59 and a beta of 1.21. Quanta Services, Inc. has a 52-week low of $363.01 and a 52-week high of $788.75. 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 (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the prior year, the company earned $1.78 EPS. Quanta Services'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. As a group, sell-side analysts predict that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.

Quanta Services announced that its Board of Directors has approved a stock repurchase plan on Friday, May 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Quanta Services Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.44 annualized dividend and a yield of 0.1%. Quanta Services's dividend payout ratio is currently 6.04%.

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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