Ritholtz Wealth Management Buys 1,143 Shares of Quanta Services, Inc. $PWR

Ritholtz Wealth Management lifted its stake in Quanta Services, Inc. (NYSE:PWR) by 22.7% in the first quarter, HoldingsChannel.com reports. The firm owned 6,175 shares of the construction company’s stock after purchasing an additional 1,143 shares during the quarter. Ritholtz Wealth Management’s holdings in Quanta Services were worth $3,390,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PWR. Evoke Wealth LLC bought a new stake in shares of Quanta Services during the fourth quarter worth $368,000. Sequoia Financial Advisors LLC boosted its holdings in Quanta Services by 3.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company’s stock valued at $55,052,000 after acquiring an additional 3,966 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Quanta Services by 9.9% in 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 purchasing an additional 4,568 shares during the period. Lebenthal Global Advisors LLC raised its holdings in Quanta Services by 9.8% during the 4th quarter. Lebenthal Global Advisors LLC now owns 9,277 shares of the construction company’s stock worth $3,915,000 after purchasing an additional 830 shares during the last quarter. Finally, North Dakota State Investment Board bought a new stake in Quanta Services during the 4th quarter worth about $2,131,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Truist Financial set a $851.00 target price on shares of Quanta Services in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $627.00 to $805.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Robert W. Baird raised their price objective on shares of Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Jefferies Financial Group upped their target price on shares of Quanta Services from $654.00 to $857.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Wall Street Zen raised Quanta Services from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $733.87.

Quanta Services Price Performance

PWR opened at $686.73 on Friday. The stock has a market cap of $103.05 billion, a P/E ratio of 94.20, a P/E/G ratio of 2.83 and a beta of 1.20. Quanta Services, Inc. has a 12 month low of $363.01 and a 12 month high of $788.75. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $702.52 and a 200 day simple moving average of $574.40.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, topping 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 period in the previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter 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, research analysts expect that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, July 1st. Quanta Services’s payout ratio is 6.04%.

Quanta Services declared that its Board of Directors has authorized a share buyback program on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Quanta Services

In other Quanta Services news, 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 value of $100,184,500.00. Following the transaction, the chief executive officer owned 556,911 shares of the company’s stock, valued at approximately $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the completion of 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 159,992 shares of company stock valued at $123,244,714 over the last quarter. 0.60% of the stock is 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.