Summit Wealth Group LLC Co. Makes New $926,000 Investment in Quanta Services, Inc. $PWR

Key Points

• Summit Wealth Group LLC opened a new position in Quanta Services, buying 2,194 shares worth about $926,000 in the fourth quarter.
• Institutional ownership remains very high, with 90.49% of Quanta Services shares held by hedge funds and other institutions. Several large investors, including Vanguard, State Street, and Bank of America, also increased their stakes.
• Quanta Services recently reported strong quarterly results, beating earnings and revenue estimates, but insiders have been selling shares and analysts now have a consensus rating of Moderate Buy with an average price target of $708.05.

Summit Wealth Group LLC Co. acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,194 shares of the construction company's stock, valued at approximately $926,000.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Quanta Services by 2.2% during the third quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company's stock worth $7,519,079,000 after acquiring an additional 386,937 shares during the last quarter. State Street Corp lifted its position in Quanta Services by 1.2% during the third quarter. State Street Corp now owns 6,080,747 shares of the construction company's stock worth $2,519,983,000 after acquiring an additional 73,460 shares during the last quarter. Bank of America Corp DE lifted its position in Quanta Services by 35.6% during the third quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company's stock worth $1,208,672,000 after acquiring an additional 765,822 shares during the last quarter. Victory Capital Management Inc. lifted its position in Quanta Services by 8.8% during the third quarter. Victory Capital Management Inc. now owns 2,156,578 shares of the construction company's stock worth $893,139,000 after acquiring an additional 174,083 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Quanta Services by 5.4% during the third quarter. Invesco Ltd. now owns 1,805,239 shares of the construction company's stock worth $748,127,000 after acquiring an additional 93,290 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PWR. DA Davidson lifted their price target on shares of Quanta Services from $450.00 to $575.00 and gave the company a "neutral" rating in a research report on Friday, February 20th. Weiss Ratings downgraded shares of Quanta Services from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Bank of America lifted their price target on shares of Quanta Services from $500.00 to $610.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Mizuho lifted their price target on shares of Quanta Services from $580.00 to $693.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Finally, Robert W. Baird lifted their price target on shares of Quanta Services from $606.00 to $777.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $708.05.

Quanta Services Stock Down 2.0%

NYSE PWR opened at $766.12 on Wednesday. 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, Inc. has a 1-year low of $320.56 and a 1-year high of $788.75. The company has a 50 day moving average of $603.73 and a 200-day moving average of $512.59. The company has a market cap of $114.96 billion, a price-to-earnings ratio of 105.09, a PEG ratio of 2.68 and a beta of 1.24.

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, beating analysts' consensus estimates of $2.04 by $0.64. The business had revenue of $7.87 billion for 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 firm's quarterly revenue was up 26.3% compared to the same quarter last year. During the same period last year, the firm posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities research analysts expect that Quanta Services, Inc. will post 12.84 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the transaction, the chief executive officer directly owned 556,911 shares in the company, valued at $429,183,462.15. This trade represents a 18.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 159,992 shares of company stock worth $123,244,714 over the last three months. 0.60% of the stock is currently owned by insiders.

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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