Sequoia Financial Advisors LLC Increases Holdings in Quanta Services, Inc. $PWR

Key Points

• Sequoia Financial Advisors increased its Quanta Services stake by 5.5% in the second quarter, adding 7,039 shares to hold 135,883 shares worth approximately $97.8 million. Institutional investors collectively own 90.49% of the company.
• Analyst sentiment remains favorable, with Quanta Services receiving a “Moderate Buy” consensus rating and an average price target of $767.72, despite its shares trading down 1.8% to $627.62.
• Quanta Services significantly exceeded quarterly expectations, reporting $4.24 EPS and $9.56 billion in revenue, while revenue grew 41.1% year over year. The company also authorized a $1 billion share-repurchase program and declared a quarterly dividend of $0.11 per share.

Sequoia Financial Advisors LLC raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,883 shares of the construction company's stock after buying an additional 7,039 shares during the quarter. Sequoia Financial Advisors LLC owned approximately 0.09% of Quanta Services worth $97,841,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Cedar Mountain Advisors LLC boosted its position in shares of Quanta Services by 321.4% during 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 last quarter. Darwin Wealth Management LLC acquired a new stake in Quanta Services during the second quarter worth about $26,000. Boreal Capital Management LLC purchased a new position in Quanta Services during the first quarter worth about $27,000. MV Capital Management Inc. purchased a new position in Quanta Services during the fourth quarter worth about $30,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Quanta Services by 221.7% in the 4th quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company's stock valued at $31,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PWR shares. Piper Sandler began coverage on shares of Quanta Services in a research report on Tuesday. They set an "overweight" rating and a $731.00 price target on the stock. KeyCorp raised Quanta Services from a "sector weight" rating to an "overweight" rating and set a $807.00 target price for the company in a research note on Friday, August 7th. Weiss Ratings downgraded Quanta Services from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. 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 report on Thursday, May 28th. Finally, Guggenheim raised Quanta Services from a "neutral" rating to a "buy" rating and set a $800.00 price objective for the company in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and an average target price of $767.72.

Quanta Services Trading Down 1.8%

PWR opened at $627.62 on Thursday. Quanta Services, Inc. has a 52 week low of $373.39 and a 52 week high of $788.75. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $647.11 and a 200-day simple moving average of $645.49. The firm has a market cap of $94.36 billion, a P/E ratio of 71.89, a P/E/G ratio of 2.09 and a beta of 1.20.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.93. Quanta Services had a return on equity of 20.55% and a net margin of 4.03%.The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.61 billion. During the same quarter in the previous year, the business earned $2.48 EPS. The company's quarterly revenue was up 41.1% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. On average, equities analysts expect that Quanta Services, Inc. will post 15.35 earnings per share for the current year.

Quanta Services declared that its Board of Directors has authorized a share repurchase plan on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.11 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio is 5.04%.

Quanta Services Profile

Quanta Services, Inc is an infrastructure solutions provider serving the electric power, communications, pipeline, industrial and renewable energy industries. The company designs, installs, repairs and maintains infrastructure used to generate, transmit and distribute electricity, as well as systems that support telecommunications, natural gas and other energy-related activities.

Its services include engineering, procurement and construction; utility and substation work; transmission and distribution projects; storm restoration; fiber-optic and wireless network deployment; pipeline construction and maintenance; and development of renewable energy and energy storage infrastructure.

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