Sierra Summit Advisors LLC Has $11.81 Million Position in Quanta Services, Inc. $PWR

Key Points

• Sierra Summit Advisors LLC cut its Quanta Services stake by 18% in the fourth quarter, leaving it with 27,987 shares worth about $11.81 million.
• Quanta Services reported a strong quarter, with EPS of $2.68 beating estimates and revenue of $7.87 billion topping expectations; quarterly revenue rose 26.3% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average target price of $708.05, even as several insiders recently sold shares.

Sierra Summit Advisors LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 18.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,987 shares of the construction company's stock after selling 6,156 shares during the quarter. Quanta Services comprises about 1.8% of Sierra Summit Advisors LLC's investment portfolio, making the stock its 21st largest position. Sierra Summit Advisors LLC's holdings in Quanta Services were worth $11,812,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PWR. Leonteq Securities AG acquired a new position in shares of Quanta Services during the fourth quarter valued at $1,040,000. Princeton Capital Management LLC lifted its stake in shares of Quanta Services by 0.4% during the fourth quarter. Princeton Capital Management LLC now owns 28,404 shares of the construction company's stock valued at $11,988,000 after acquiring an additional 108 shares during the period. ABN Amro Investment Solutions lifted its stake in shares of Quanta Services by 13.9% during the fourth quarter. ABN Amro Investment Solutions now owns 50,459 shares of the construction company's stock valued at $21,297,000 after acquiring an additional 6,174 shares during the period. IFP Advisors Inc lifted its stake in shares of Quanta Services by 29.3% during the fourth quarter. IFP Advisors Inc now owns 1,517 shares of the construction company's stock valued at $640,000 after acquiring an additional 344 shares during the period. Finally, Adell Harriman & Carpenter Inc. lifted its stake in shares of Quanta Services by 0.4% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 122,103 shares of the construction company's stock valued at $51,535,000 after acquiring an additional 477 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Insider Activity

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction dated Monday, May 4th. The stock was 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 directly owned 8,080 shares in the company, valued at $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the 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 completion of the sale, the chief executive officer owned 16,508 shares of the company's stock, valued at $12,722,880.68. This trade represents a 61.16% decrease in their ownership of the stock. 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 90 days. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of several research reports. Bank of America upped their price target on Quanta Services from $500.00 to $610.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Wolfe Research upped their price target on Quanta Services from $477.00 to $576.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. UBS Group upped their price target on Quanta Services from $646.00 to $900.00 and gave the company a "buy" rating in a research note on Monday, May 4th. CICC Research initiated coverage on Quanta Services in a research note on Thursday. They set an "outperform" rating on the stock. Finally, B. Riley Financial reaffirmed a "neutral" rating on shares of Quanta Services in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eight 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 a consensus target price of $708.05.

Quanta Services Trading Down 0.7%

NYSE:PWR opened at $708.94 on Thursday. Quanta Services, Inc. has a 1-year low of $320.56 and a 1-year high of $788.75. The business's 50-day moving average price is $625.85 and its two-hundred day moving average price is $525.41. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $106.38 billion, a price-to-earnings ratio of 97.25, a PEG ratio of 2.45 and a beta of 1.24.

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 for the quarter, beating 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 for the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The company'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. On average, equities analysts expect that Quanta Services, Inc. will post 12.84 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Thursday, April 2nd. Quanta Services's dividend payout ratio is 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.

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