Moran Wealth Management LLC Sells 10,306 Shares of Quanta Services, Inc. $PWR

Moran Wealth Management LLC lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 23.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,379 shares of the construction company’s stock after selling 10,306 shares during the quarter. Moran Wealth Management LLC’s holdings in Quanta Services were worth $18,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Evoke Wealth LLC purchased a new stake in shares of Quanta Services in the 4th quarter worth about $368,000. Sequoia Financial Advisors LLC increased its position in shares of Quanta Services by 3.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company’s stock valued at $55,052,000 after buying an additional 3,966 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Quanta Services by 9.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,602 shares of the construction company’s stock valued at $21,357,000 after buying an additional 4,568 shares during the period. Lebenthal Global Advisors LLC raised its stake in Quanta Services by 9.8% in the fourth quarter. Lebenthal Global Advisors LLC now owns 9,277 shares of the construction company’s stock worth $3,915,000 after buying an additional 830 shares in the last quarter. Finally, North Dakota State Investment Board purchased a new stake in Quanta Services in the fourth quarter worth about $2,131,000. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Sanford C. Bernstein upped 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. CICC Research initiated coverage on Quanta Services in a research note on Thursday, May 21st. They issued an “outperform” rating and a $872.00 target price for the company. Roth Mkm lifted their price target on Quanta Services from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, April 6th. The Goldman Sachs Group upped their price target on Quanta Services from $685.00 to $826.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised Quanta Services from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $755.18.

Insider Activity

In other news, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the sale, the chief executive officer owned 16,508 shares in the company, valued at approximately $12,722,880.68. The trade was 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 over the last three months. 0.60% of the stock is currently owned by insiders.

Quanta Services Price Performance

PWR stock opened at $667.73 on Friday. The firm has a 50 day moving average price of $711.52 and a 200-day moving average price of $582.63. Quanta Services, Inc. has a 52-week low of $363.01 and a 52-week high of $788.75. The firm has a market capitalization of $100.20 billion, a price-to-earnings ratio of 91.60, a PEG ratio of 2.63 and a beta of 1.21. 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 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. The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services Announces Dividend

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 paid a $0.11 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s payout ratio is presently 6.04%.

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

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.