Cahaba Wealth Management Inc. Purchases New Stake in Quanta Services, Inc. $PWR

Cahaba Wealth Management Inc. acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 755 shares of the construction company’s stock, valued at approximately $415,000.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Quanta Services in the fourth quarter worth about $298,000. Woodline Partners LP increased its holdings in Quanta Services by 40.7% in the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after buying an additional 3,606 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Quanta Services during the second quarter valued at approximately $4,632,000. Marshall Wace LLP acquired a new stake in Quanta Services during the second quarter valued at approximately $996,000. Finally, StoneX Group Inc. bought a new position in Quanta Services during the 2nd quarter worth approximately $204,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction on 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 of the company’s stock, valued at $6,116,398.40. The trade was a 33.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value of $20,032,294.32. Following the transaction, the chief executive officer owned 16,508 shares of the company’s stock, valued at $12,722,880.68. This trade represents a 61.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 159,992 shares of company stock worth $123,244,714 in the last ninety days. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PWR. Truist Financial boosted their price target on Quanta Services from $851.00 to $940.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. B. Riley Financial restated a “neutral” rating on shares of Quanta Services in a research note on Friday, May 1st. Citigroup lifted their price objective on shares of Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Evercore boosted their target price on shares of Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Cantor Fitzgerald raised their price target on shares of Quanta Services from $630.00 to $901.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Nineteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $755.18.

Quanta Services Trading Up 1.3%

Shares of NYSE:PWR opened at $665.65 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $713.48 and its 200 day moving average price is $588.75. The company has a market cap of $99.89 billion, a PE ratio of 91.31, a P/E/G ratio of 2.58 and a beta of 1.21. Quanta Services, Inc. has a fifty-two week low of $363.01 and a fifty-two week high of $788.75.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.04 by $0.64. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. Quanta Services’s revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 12.81 earnings per share for the current year.

Quanta Services announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Quanta Services Dividend Announcement

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