Wealthfront Advisers LLC Has $14.33 Million Stock Position in Quanta Services, Inc. $PWR

Wealthfront Advisers LLC raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 6.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,100 shares of the construction company’s stock after purchasing an additional 1,559 shares during the quarter. Wealthfront Advisers LLC’s holdings in Quanta Services were worth $14,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Evoke Wealth LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $368,000. Sequoia Financial Advisors LLC increased its holdings in shares of Quanta Services by 3.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company’s stock worth $55,052,000 after buying an additional 3,966 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Quanta Services by 9.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,602 shares of the construction company’s stock worth $21,357,000 after buying an additional 4,568 shares in the last quarter. Lebenthal Global Advisors LLC lifted its stake in shares of Quanta Services by 9.8% in the 4th quarter. Lebenthal Global Advisors LLC now owns 9,277 shares of the construction company’s stock valued at $3,915,000 after acquiring an additional 830 shares during the last quarter. Finally, North Dakota State Investment Board acquired a new stake in shares of Quanta Services during the 4th quarter valued at $2,131,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 2.9%

Shares of NYSE:PWR opened at $630.09 on Friday. The firm has a market cap of $94.55 billion, a P/E ratio of 86.43, a P/E/G ratio of 2.55 and a beta of 1.21. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The business has a fifty day simple moving average of $705.81 and a 200 day simple moving average of $598.03. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates 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 previous year, the company posted $1.78 EPS. The business’s 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. Analysts predict that Quanta Services, Inc. will post 12.8 earnings per share for the current year.

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 buy 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.

Quanta Services Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Earl C. Jr. Austin sold 25,992 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were 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 of the company’s stock, valued at approximately $12,722,880.68. This represents a 61.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the 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 sale, the chief accounting officer owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 159,992 shares of company stock valued at $123,244,714 in the last three months. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BNP Paribas Exane assumed coverage on Quanta Services in a report on Tuesday, April 14th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lifted their price target on Quanta Services from $627.00 to $805.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Cantor Fitzgerald boosted their price target on Quanta Services from $630.00 to $901.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Evercore upped their price objective on Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Oppenheimer upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 price objective for the company in a report on Thursday, May 28th. Nineteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $751.86.

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.