DAVENPORT & Co LLC Sells 3,208 Shares of Quanta Services, Inc. $PWR

DAVENPORT & Co LLC decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,830 shares of the construction company’s stock after selling 3,208 shares during the period. DAVENPORT & Co LLC owned about 0.16% of Quanta Services worth $98,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Quanta Services during the second quarter valued at $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Quanta Services by 57.2% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock worth $917,009,000 after buying an additional 882,209 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Quanta Services by 35.6% in the third quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock worth $1,208,672,000 after buying an additional 765,822 shares during the period. Select Equity Group L.P. lifted its position in shares of Quanta Services by 69.3% during the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock valued at $384,554,000 after buying an additional 416,395 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Quanta Services by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company’s stock valued at $7,519,079,000 after acquiring an additional 386,937 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on PWR. Jefferies Financial Group raised their target price on shares of Quanta Services from $506.00 to $634.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. TD Cowen upped their price target on shares of Quanta Services from $425.00 to $570.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. DA Davidson raised their price objective on shares of Quanta Services from $450.00 to $575.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Citigroup lifted their target price on shares of Quanta Services from $540.00 to $640.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Stifel Nicolaus set a $647.00 target price on shares of Quanta Services in a report on Monday, February 23rd. Seventeen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $576.55.

Quanta Services Trading Up 1.9%

Quanta Services stock opened at $578.39 on Wednesday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $583.73. The firm’s 50 day moving average price is $523.73 and its 200-day moving average price is $462.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.14 and a quick ratio of 1.09. The stock has a market cap of $86.54 billion, a P/E ratio of 85.06, a PEG ratio of 2.58 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 19th. The construction company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.14. The company had revenue of $7.84 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Quanta Services had a net margin of 3.61% and a return on equity of 18.10%. Quanta Services’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the company posted $2.94 earnings per share. Quanta Services has set its FY 2026 guidance at 12.650-13.350 EPS. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Thursday, April 2nd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, April 2nd. Quanta Services’s payout ratio is 6.47%.

Quanta Services Company 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.