Smith Group Asset Management LLC Has $2.56 Million Position in Quanta Services, Inc. $PWR

Smith Group Asset Management LLC lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 22.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,654 shares of the construction company’s stock after selling 1,346 shares during the period. Smith Group Asset Management LLC’s holdings in Quanta Services were worth $2,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cedar Mountain Advisors LLC lifted its stake 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 worth $25,000 after buying an additional 45 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Quanta Services during the second quarter worth approximately $26,000. Boreal Capital Management LLC bought a new stake in shares of Quanta Services during the first quarter worth approximately $27,000. Flagship Harbor Advisors LLC bought a new position in shares of Quanta Services during the fourth quarter worth approximately $28,000. Finally, MV Capital Management Inc. acquired a new stake in Quanta Services during the 4th quarter worth approximately $30,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on PWR shares. Robert W. Baird upped their price objective on Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a report on Friday, May 1st. TD Cowen raised their price target on shares of Quanta Services from $570.00 to $775.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. The Goldman Sachs Group boosted their price objective on shares of Quanta Services from $685.00 to $826.00 and gave the company a “buy” rating in a report on Monday, May 4th. UBS Group raised their target price on shares of Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, BMO Capital Markets increased their price target on Quanta Services from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Seventeen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $745.55.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $588.03 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. The stock has a market capitalization of $88.24 billion, a PE ratio of 80.66, a PEG ratio of 2.44 and a beta of 1.21. The firm has a 50 day moving average of $685.36 and a 200-day moving average of $609.13. Quanta Services, Inc. has a 12 month low of $363.01 and a 12 month high of $788.75.

Quanta Services (NYSE:PWR) 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 predict that Quanta Services, Inc. will post 12.8 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, July 1st. Quanta Services’s payout ratio is currently 6.04%.

Quanta Services announced that its Board of Directors has approved a share buyback plan on Friday, May 22nd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the 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 owned 556,911 shares of the company’s stock, valued at $429,183,462.15. This represents a 18.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,992 shares of company stock valued at $123,244,714 in the last three months. Company 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.