NewEdge Advisors LLC Sells 16,508 Shares of Quanta Services, Inc. $PWR

NewEdge Advisors LLC trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 79.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,383 shares of the construction company’s stock after selling 16,508 shares during the quarter. NewEdge Advisors LLC’s holdings in Quanta Services were worth $2,406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PWR. Cedar Mountain Advisors LLC boosted its holdings in Quanta Services by 321.4% in the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock valued at $25,000 after purchasing an additional 45 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Quanta Services in the second quarter worth $26,000. Boreal Capital Management LLC bought a new stake in Quanta Services during the first quarter valued at $27,000. MV Capital Management Inc. purchased a new position in Quanta Services during the fourth quarter worth about $30,000. Finally, Meeder Asset Management Inc. increased its stake in Quanta Services by 221.7% in the 4th quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock worth $31,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PWR. Deutsche Bank Aktiengesellschaft downgraded shares of Quanta Services to a “sell” rating in a research note on Friday, July 31st. BMO Capital Markets increased their price target on shares of Quanta Services from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Sanford C. Bernstein restated a “market perform” rating and set a $748.00 price objective on shares of Quanta Services in a research report on Friday, July 31st. Argus set a $800.00 price objective on shares of Quanta Services in a report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Quanta Services from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $769.25.

Quanta Services Stock Up 2.0%

Shares of PWR opened at $685.99 on Friday. Quanta Services, Inc. has a 1 year low of $363.01 and a 1 year high of $788.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.10 and a quick ratio of 1.05. The stock has a 50 day simple moving average of $672.18 and a two-hundred day simple moving average of $627.60. The firm has a market cap of $103.13 billion, a P/E ratio of 78.58, a P/E/G ratio of 2.21 and a beta of 1.23.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 EPS for the quarter, topping the consensus estimate of $3.31 by $0.93. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.61 billion. During the same period last year, the firm posted $2.48 earnings per share. The business’s revenue was up 41.1% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. On average, analysts forecast that Quanta Services, Inc. will post 15.33 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.44 annualized dividend and a yield of 0.1%. Quanta Services’s payout ratio is currently 5.04%.

Quanta Services declared that its Board of Directors has initiated a share buyback plan on Friday, May 22nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are 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.