Quanta Services, Inc. $PWR Shares Sold by Energy Income Partners LLC

Key Points

• Energy Income Partners reduced its Quanta Services stake by 42.3% in the first quarter, selling 92,366 shares and retaining 126,193 shares valued at approximately $69.3 million. Institutional investors collectively own 90.49% of PWR.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $745.55, although some firms recently downgraded the stock to “Hold.”
• Quanta reported quarterly EPS of $2.68, exceeding expectations, while revenue rose 26.3% year over year to $7.87 billion. The company also authorized a $1 billion share repurchase program and declared a quarterly dividend of $0.11 per share.

Energy Income Partners LLC cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 42.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 126,193 shares of the construction company's stock after selling 92,366 shares during the quarter. Energy Income Partners LLC owned about 0.08% of Quanta Services worth $69,282,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers grew its position in Quanta Services by 5.8% in the 1st quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company's stock valued at $40,701,000 after acquiring an additional 4,087 shares in the last quarter. Evoke Wealth LLC purchased a new position in shares of Quanta Services in the fourth quarter valued at approximately $368,000. Sequoia Financial Advisors LLC boosted its stake in shares of Quanta Services by 3.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company's stock valued at $55,052,000 after purchasing an additional 3,966 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Quanta Services by 9.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,602 shares of the construction company's stock valued at $21,357,000 after purchasing an additional 4,568 shares in the last quarter. Finally, Lebenthal Global Advisors LLC increased its stake in Quanta Services by 9.8% during the 4th quarter. Lebenthal Global Advisors LLC now owns 9,277 shares of the construction company's stock worth $3,915,000 after buying an additional 830 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PWR. Citigroup increased their target price 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 raised Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price objective on the stock in a research report on Thursday, May 28th. BMO Capital Markets increased their price objective on Quanta Services from $650.00 to $800.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Zacks Research lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Finally, Wall Street Zen cut Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday. Seventeen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $745.55.

Quanta Services Trading Down 0.9%

Shares of NYSE:PWR opened at $619.98 on Tuesday. Quanta Services, Inc. has a 52 week low of $363.01 and a 52 week high of $788.75. The company's 50 day moving average is $687.90 and its two-hundred day moving average is $608.07. The company has a market cap of $93.03 billion, a PE ratio of 85.05, a P/E/G ratio of 2.46 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57.

Quanta Services (NYSE:PWR - Get Free Report) last released 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. The business had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company's revenue for the quarter was up 26.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities analysts predict that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st were issued 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 Wednesday, July 1st. Quanta Services's payout ratio is 6.04%.

Quanta Services announced that its Board of Directors has authorized a stock repurchase program on Friday, May 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Activity

In related news, CAO Paul Nobel sold 4,000 shares of the business's 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 owned 8,080 shares in the company, valued at $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total value of $100,184,500.00. Following the completion of the transaction, the chief executive officer directly owned 556,911 shares of the company's stock, valued at $429,183,462.15. This trade represents a 18.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 159,992 shares of company stock valued at $123,244,714. Insiders own 0.60% of the company's stock.

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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