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

Smith Group Asset Management LLC reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 22.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boreal Capital Management LLC bought a new position in shares of Quanta Services in the 1st quarter worth $27,000. Cedar Mountain Advisors LLC boosted its holdings in Quanta Services by 321.4% during the fourth 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. Flagship Harbor Advisors LLC acquired a new position in shares of Quanta Services during the 4th quarter worth about $28,000. Darwin Wealth Management LLC acquired a new stake in shares of Quanta Services in the 2nd quarter valued at approximately $26,000. Finally, MV Capital Management Inc. bought a new position in Quanta Services during the 4th quarter worth approximately $30,000. Institutional investors own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In related 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 sale, the chief accounting officer owned 8,080 shares in the company, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 16,508 shares of the company’s stock, valued at approximately $12,722,880.68. This represents a 61.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PWR. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $714.00 target price on shares of Quanta Services in a report on Tuesday, July 21st. Sanford C. Bernstein lifted their target price on Quanta Services from $538.00 to $725.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. Robert W. Baird increased their price target on Quanta Services from $606.00 to $777.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. BMO Capital Markets lifted their price objective on Quanta Services from $650.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Finally, Cantor Fitzgerald increased their target price on Quanta Services from $630.00 to $901.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $745.55.

Quanta Services Stock Down 5.2%

Shares of Quanta Services stock opened at $588.03 on Wednesday. The firm has a market cap of $88.24 billion, a PE ratio of 80.66, a P/E/G ratio of 2.44 and a beta of 1.21. The business’s 50 day simple moving average is $685.36 and its 200 day simple moving average is $609.13. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. Quanta Services, Inc. has a 52-week low of $363.01 and a 52-week high of $788.75.

Quanta Services (NYSE:PWR) last issued its quarterly 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 net margin of 3.67% and a return on equity of 18.64%. The company had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the business earned $1.78 EPS. The business’s quarterly 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. On average, analysts predict that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.

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

Quanta Services Announces Dividend

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

Quanta Services 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.