Evoke Wealth LLC Acquires Shares of 873 Quanta Services, Inc. $PWR

Evoke Wealth LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, Holdings Channel.com reports. The fund acquired 873 shares of the construction company’s stock, valued at approximately $368,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lansforsakringar Fondforvaltning AB publ increased its stake in shares of Quanta Services by 5.4% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 46,609 shares of the construction company’s stock worth $19,316,000 after purchasing an additional 2,375 shares during the period. Chilton Capital Management LLC boosted its stake in Quanta Services by 63.3% in the 3rd quarter. Chilton Capital Management LLC now owns 166,536 shares of the construction company’s stock valued at $69,016,000 after purchasing an additional 64,560 shares during the period. Yahav Achim Ve Achayot Provident Funds Management Co Ltd. acquired a new position in Quanta Services in the 3rd quarter valued at $1,752,000. Atria Investments Inc increased its position in Quanta Services by 20.4% during the 3rd quarter. Atria Investments Inc now owns 13,818 shares of the construction company’s stock worth $5,727,000 after buying an additional 2,340 shares during the period. Finally, Westfield Capital Management Co. LP increased its position in Quanta Services by 44.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 245,506 shares of the construction company’s stock worth $101,743,000 after buying an additional 75,449 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PWR. Roth Mkm boosted their target price on shares of Quanta Services from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, April 6th. BMO Capital Markets lifted their price objective on shares of Quanta Services from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. CICC Research began coverage on shares of Quanta Services in a report on Thursday, May 21st. They issued an “outperform” rating and a $872.00 price objective for the company. BNP Paribas Exane assumed coverage on shares of Quanta Services in a research report on Tuesday, April 14th. They set a “neutral” rating on the stock. Finally, Stifel Nicolaus set a $784.00 price target on shares of Quanta Services in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $715.17.

Quanta Services Stock Down 0.1%

Shares of NYSE PWR opened at $722.60 on Tuesday. The stock has a market capitalization of $108.43 billion, a P/E ratio of 99.12, a PEG ratio of 2.48 and a beta of 1.24. The stock’s fifty day moving average is $635.13 and its 200 day moving average is $531.21. Quanta Services, Inc. has a 52 week low of $326.89 and a 52 week high of $788.75. 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 (NYSE:PWR) last posted its quarterly earnings data 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 business had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the business posted $1.78 earnings per share. Quanta Services’s 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. Sell-side analysts forecast that Quanta Services, Inc. will post 12.84 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is currently 6.04%.

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

Insider Buying and Selling

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total value of $100,184,500.00. Following the sale, the chief executive officer owned 556,911 shares of the company’s stock, valued at approximately $429,183,462.15. This trade represents a 18.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction on Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the completion of the transaction, the chief accounting officer owned 8,080 shares in the company, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,992 shares of company stock worth $123,244,714 over the last three months. 0.60% of the stock is currently 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.