Quanta Services, Inc. $PWR Shares Sold by Brookstone Capital Management

Key Points

• Brookstone Capital Management cut its Quanta Services stake by 17% in the first quarter, selling 6,092 shares and leaving it with 29,694 shares worth about $16.3 million.
• Quanta Services insiders also sold stock recently, including CEO Earl C. Jr. Austin, who sold 130,000 shares for about $100.2 million; insiders sold roughly 159,992 shares total last quarter.
• The company reported strong quarterly results, beating EPS and revenue estimates, and it also authorized a $1 billion share buyback while analysts maintain a Moderate Buy consensus with a target price near $733.87.

Brookstone Capital Management reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 17.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,694 shares of the construction company's stock after selling 6,092 shares during the period. Brookstone Capital Management's holdings in Quanta Services were worth $16,303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Arete Wealth Advisors LLC boosted its stake in shares of Quanta Services by 2.2% during the 4th quarter. Arete Wealth Advisors LLC now owns 917 shares of the construction company's stock worth $387,000 after acquiring an additional 20 shares in the last quarter. Quantum Portfolio Management LLC grew its holdings in shares of Quanta Services by 2.2% in the 4th quarter. Quantum Portfolio Management LLC now owns 946 shares of the construction company's stock worth $399,000 after acquiring an additional 20 shares during the period. Icon Wealth Advisors LLC increased its stake in Quanta Services by 1.2% in the 4th quarter. Icon Wealth Advisors LLC now owns 1,733 shares of the construction company's stock valued at $731,000 after purchasing an additional 21 shares in the last quarter. Sunburst Financial Group LLC raised its holdings in Quanta Services by 2.0% during the fourth quarter. Sunburst Financial Group LLC now owns 1,147 shares of the construction company's stock worth $484,000 after purchasing an additional 22 shares during the last quarter. Finally, Spirepoint Private Client LLC raised its holdings in 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 during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total value of $100,184,500.00. Following the sale, the chief executive officer directly owned 556,911 shares of the company's stock, valued at approximately $429,183,462.15. This trade represents a 18.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the completion of 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 over the last quarter. Insiders own 0.60% of the company's stock.

Quanta Services Stock Up 0.3%

PWR opened at $704.35 on Monday. The firm has a market cap of $105.70 billion, a P/E ratio of 96.62, a PEG ratio of 2.76 and a beta of 1.20. The business's fifty day simple moving average is $690.42 and its 200 day simple moving average is $566.36. Quanta Services, Inc. has a 52 week low of $358.38 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 released 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 net margin of 3.67% and a return on equity of 18.64%. The company 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 firm earned $1.78 EPS. The firm's quarterly 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, equities research analysts anticipate that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services announced that its board has initiated a share buyback plan on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are 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 $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, July 1st. Quanta Services's dividend payout ratio is presently 6.04%.

Analysts Set New Price Targets

Several analysts have weighed in on PWR shares. Sanford C. Bernstein upped their target price on Quanta Services from $538.00 to $725.00 and gave the company a "market perform" rating in a report on Tuesday, May 5th. Mizuho lifted their price target on Quanta Services from $580.00 to $693.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Argus boosted their price objective on shares of Quanta Services from $540.00 to $650.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Stifel Nicolaus set a $784.00 target price on shares of Quanta Services in a report on Friday, May 1st. Finally, B. Riley Financial restated a "neutral" rating on shares of Quanta Services in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $733.87.

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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