Quanta Services, Inc. $PWR Shares Sold by D.A. Davidson & CO.

Key Points

• D.A. Davidson & Co. trimmed its Quanta Services stake by 7.1% in the first quarter, selling 3,407 shares and leaving it with 44,473 shares valued at about $24.4 million.
• Quanta Services posted stronger-than-expected quarterly results, with EPS of $2.68 and revenue of $7.87 billion, both topping analyst estimates and up 26.3% year over year.
• The company also announced a $1 billion share buyback and a small quarterly dividend, while analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $751.86.

D.A. Davidson & CO. decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,473 shares of the construction company's stock after selling 3,407 shares during the period. D.A. Davidson & CO.'s holdings in Quanta Services were worth $24,417,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Quanta Services during the fourth quarter worth approximately $817,285,000. Victory Capital Management Inc. increased its holdings in shares of Quanta Services by 35.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company's stock valued at $1,230,493,000 after buying an additional 758,862 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Quanta Services by 137.6% in the fourth quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company's stock valued at $486,065,000 after buying an additional 667,050 shares in the last quarter. Sands Capital Management LLC acquired a new stake in shares of Quanta Services during the 4th quarter valued at $243,485,000. Finally, Select Equity Group L.P. boosted its stake in shares of Quanta Services by 69.3% during the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company's stock worth $384,554,000 after acquiring an additional 416,395 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $648.82 on Thursday. Quanta Services, Inc. has a 12 month low of $363.01 and a 12 month 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. The stock has a market cap of $97.36 billion, a PE ratio of 89.00, a price-to-earnings-growth ratio of 2.60 and a beta of 1.21. The business has a fifty day simple moving average of $708.21 and a 200-day simple moving average of $596.64.

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 (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $7 billion. During the same period in the prior year, the business earned $1.78 EPS. The business's revenue for the quarter was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 12.8 EPS for the current fiscal year.

Quanta Services announced that its board has initiated a share repurchase 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 typically an indication that the company's management believes its shares are undervalued.

Quanta Services Announces Dividend

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

Insider Activity at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction that occurred 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 in the company, valued at $12,722,880.68. This represents a 61.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Truist Financial boosted their target price on Quanta Services from $851.00 to $940.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Oppenheimer upgraded Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price target for the company in a research report on Thursday, May 28th. Zacks Research cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. TD Cowen upped their price objective on shares of Quanta Services from $570.00 to $775.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Finally, Mizuho raised their target price on shares of Quanta Services from $580.00 to $693.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Nineteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $751.86.

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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