Empirical Financial Services LLC d.b.a. Empirical Wealth Management Decreases Stake in Quanta Services, Inc. $PWR

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,574 shares of the construction company’s stock after selling 910 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Quanta Services were worth $14,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. Norges Bank acquired a new stake in shares of Quanta Services during the fourth quarter worth $817,285,000. Bank of America Corp DE increased its position in shares of Quanta Services by 35.6% in the 3rd quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock valued at $1,208,672,000 after acquiring an additional 765,822 shares during the period. Victory Capital Management Inc. raised its stake in Quanta Services by 35.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock worth $1,230,493,000 after acquiring an additional 758,862 shares during the last quarter. Corient Private Wealth LLC raised its stake in Quanta Services by 137.6% in the 4th quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company’s stock worth $486,065,000 after acquiring an additional 667,050 shares during the last quarter. Finally, Sands Capital Management LLC acquired a new stake in Quanta Services during the 4th quarter worth about $243,485,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR stock opened at $646.72 on Tuesday. The stock has a market cap of $97.05 billion, a PE ratio of 88.71, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. The business has a 50-day simple moving average of $713.16 and a 200-day simple moving average of $593.52. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a 52-week low of $363.01 and a 52-week high of $788.75.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.04 by $0.64. The firm had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.Quanta Services’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period last year, the company earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities analysts expect that Quanta Services, Inc. will post 12.8 EPS for the current year.

Quanta Services announced that its board has approved a share buyback 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 purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is presently 6.04%.

Insider Buying and Selling

In related news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the sale, the chief accounting officer directly owned 8,080 shares of the company’s stock, 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 available at this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’s stock in a transaction 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. This represents a 61.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 159,992 shares of company stock worth $123,244,714 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PWR. CICC Research assumed coverage on Quanta Services in a report on Thursday, May 21st. They issued an “outperform” rating and a $872.00 price objective on the stock. Citigroup lifted their target price on Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Sanford C. Bernstein upped their target price on Quanta Services from $538.00 to $725.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. 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. Finally, BNP Paribas Exane began coverage on shares of Quanta Services in a research note on Tuesday, April 14th. They set a “neutral” rating for the company. Nineteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $751.86.

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.