Sequoia Financial Advisors LLC Has $70.74 Million Stock Position in Quanta Services, Inc. $PWR

Sequoia Financial Advisors LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 128,844 shares of the construction company’s stock after selling 1,592 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Quanta Services were worth $70,738,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evoke Wealth LLC acquired a new stake in shares of Quanta Services in the 4th quarter valued at about $368,000. Mirae Asset Global Investments Co. Ltd. grew 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 raised its position in 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 buying an additional 830 shares during the last quarter. North Dakota State Investment Board bought a new stake in Quanta Services in the 4th quarter valued at approximately $2,131,000. Finally, Tema Etfs LLC boosted its position in Quanta Services by 48.2% during the 4th quarter. Tema Etfs LLC now owns 32,720 shares of the construction company’s stock worth $13,810,000 after acquiring an additional 10,640 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus set a $784.00 price objective on shares of Quanta Services in a report on Friday, May 1st. TD Cowen raised their target price on shares of Quanta Services from $570.00 to $775.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Citigroup boosted their price target on shares of Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Truist Financial increased their price objective on shares of Quanta Services from $851.00 to $940.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Zacks Research downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Nineteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $751.86.

Insider Buying and Selling at Quanta Services

In related news, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction dated 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 sale, the chief accounting officer owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated 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 approximately $429,183,462.15. This represents a 18.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 159,992 shares of company stock worth $123,244,714. Corporate insiders own 0.60% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR traded down $10.20 during midday trading on Friday, reaching $657.97. The stock had a trading volume of 847,048 shares, compared to its average volume of 1,380,968. 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 50 day simple moving average of $714.79 and a 200-day simple moving average of $590.92. The firm has a market cap of $98.73 billion, a PE ratio of 90.26, a P/E/G ratio of 2.63 and a beta of 1.21. Quanta Services, Inc. has a one year low of $363.01 and a one year high of $788.75.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.64. The business had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.Quanta Services’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the company posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 12.8 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be 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 is Wednesday, July 1st. Quanta Services’s payout ratio is 6.04%.

Quanta Services announced that its board has authorized a stock buyback program on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.