Midwest Trust Co Raises Holdings in Quanta Services, Inc. $PWR

Midwest Trust Co boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 889.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,550 shares of the construction company’s stock after acquiring an additional 12,181 shares during the period. Midwest Trust Co’s holdings in Quanta Services were worth $7,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in Quanta Services during the fourth quarter valued at about $817,285,000. Bank of America Corp DE grew its position in Quanta Services by 35.6% during the 3rd quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock worth $1,208,672,000 after purchasing an additional 765,822 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Quanta Services by 35.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock valued at $1,230,493,000 after acquiring an additional 758,862 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Quanta Services by 137.6% in the fourth quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company’s stock valued at $486,065,000 after purchasing an additional 667,050 shares during the period. Finally, Sands Capital Management LLC purchased a new position in Quanta Services during the 4th quarter worth approximately $243,485,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PWR. JPMorgan Chase & Co. increased their price target on Quanta Services from $627.00 to $805.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Truist Financial boosted their price target on shares of Quanta Services from $851.00 to $940.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. Robert W. Baird increased their target price 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. Finally, Jefferies Financial Group cut their price target on Quanta Services from $857.00 to $784.00 and set a “buy” rating for the company in a report on Friday. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $751.86.

Quanta Services Price Performance

PWR stock opened at $657.97 on Monday. The company has a market capitalization of $98.73 billion, a PE ratio of 90.26, a P/E/G ratio of 2.59 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 company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average price is $714.79 and its 200 day moving average price is $592.03.

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

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be paid a $0.11 dividend. 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 dividend payout ratio (DPR) is presently 6.04%.

Quanta Services declared that its board has initiated a share repurchase program 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer directly owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $100,184,500.00. Following the completion of the transaction, the chief executive officer owned 556,911 shares in the company, valued at $429,183,462.15. This represents a 18.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 159,992 shares of company stock valued at $123,244,714 in the last quarter. 0.60% of the stock is owned by insiders.

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.