Securian Asset Management Inc. Sells 3,189 Shares of Quanta Services, Inc. $PWR

Key Points

• Securian Asset Management cut its Quanta Services stake by 44% in the fourth quarter, selling 3,189 shares and ending with 4,055 shares valued at about $1.71 million.
• Insider selling has been heavy, including major sales by CAO Paul Nobel and CEO Earl C. Jr. Austin; over the last 90 days, insiders sold 159,992 shares worth about $123.2 million.
• Quanta Services reported strong results, beating earnings and revenue estimates for the latest quarter, while analysts remain broadly bullish with a consensus “Moderate Buy” rating and a $708.05 price target.

Securian Asset Management Inc. decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 44.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,055 shares of the construction company's stock after selling 3,189 shares during the period. Securian Asset Management Inc.'s holdings in Quanta Services were worth $1,711,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management boosted its holdings in Quanta Services by 94.1% in the third 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 bought a new position in Quanta Services in the fourth quarter valued at about $28,000. Darwin Wealth Management LLC bought a new position in Quanta Services in the second quarter valued at about $26,000. Cornerstone Planning Group LLC boosted its holdings in Quanta Services by 213.0% during the third quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company's stock worth $30,000 after buying an additional 49 shares during the last quarter. Finally, Laurel Wealth Advisors LLC bought a new position in Quanta Services during the fourth quarter worth about $34,000. Institutional investors own 90.49% of the company's stock.

Insider Transactions at Quanta Services

In other news, CAO Paul Nobel sold 4,000 shares of the firm's stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $12,722,880.68. This represents a 61.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PWR shares. Wolfe Research raised their target price on Quanta Services from $477.00 to $576.00 and gave the stock an "outperform" rating in a report on Friday, February 20th. BNP Paribas Exane started coverage on Quanta Services in a report on Tuesday, April 14th. They set a "neutral" rating on the stock. Argus raised their target price on Quanta Services from $540.00 to $650.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. Citigroup raised their target price on Quanta Services from $640.00 to $733.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Finally, BMO Capital Markets raised their target price on Quanta Services from $650.00 to $800.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. Seventeen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $708.05.

Quanta Services Trading Up 4.6%

NYSE PWR opened at $779.58 on Tuesday. The firm has a market cap of $116.98 billion, a P/E ratio of 106.94, a P/E/G ratio of 2.56 and a beta of 1.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. The stock's 50-day moving average is $599.67 and its 200-day moving average is $510.10. Quanta Services, Inc. has a one year low of $320.56 and a one year high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.64. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.Quanta Services's revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 12.84 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Thursday, April 2nd were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 6.04%.

Quanta Services 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.

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.