Bank of New York Mellon Corp Sells 1,293 Shares of Quanta Services, Inc. $PWR

Bank of New York Mellon Corp trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 917,368 shares of the construction company’s stock after selling 1,293 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.61% of Quanta Services worth $503,653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Bank Corp boosted its position in Quanta Services by 23.5% during the 1st quarter. SouthState Bank Corp now owns 84 shares of the construction company’s stock worth $46,000 after buying an additional 16 shares during the period. Lewis Asset Management LLC increased its position in Quanta Services by 2.5% in the 1st quarter. Lewis Asset Management LLC now owns 692 shares of the construction company’s stock valued at $380,000 after acquiring an additional 17 shares during the period. Stiles Financial Services Inc increased its position in Quanta Services by 1.8% in the 1st quarter. Stiles Financial Services Inc now owns 987 shares of the construction company’s stock valued at $542,000 after acquiring an additional 17 shares during the period. Ethos Financial Group LLC lifted its holdings in shares of Quanta Services by 1.8% during the first quarter. Ethos Financial Group LLC now owns 1,064 shares of the construction company’s stock worth $584,000 after purchasing an additional 19 shares during the period. Finally, Arete Wealth Advisors LLC grew its stake in shares of Quanta Services by 2.2% in the fourth quarter. Arete Wealth Advisors LLC now owns 917 shares of the construction company’s stock worth $387,000 after purchasing an additional 20 shares during the last quarter. 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, CEO Earl C. Jr. Austin sold 25,992 shares of the business’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 completion of 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 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 the company’s 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 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. In the last three months, insiders sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. BNP Paribas Exane started coverage on Quanta Services in a report on Tuesday, April 14th. They issued a “neutral” rating for the company. Citigroup upped their price target on Quanta Services from $640.00 to $733.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. B. Riley Financial restated a “neutral” rating on shares of Quanta Services in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded Quanta Services from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Nineteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $751.86.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $630.09 on Friday. The business has a 50-day simple moving average of $705.81 and a 200 day simple moving average of $598.03. Quanta Services, Inc. has a one year low of $363.01 and a one year high of $788.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. The firm has a market capitalization of $94.55 billion, a price-to-earnings ratio of 86.43, a PEG ratio of 2.55 and a beta of 1.21.

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

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

Quanta Services Announces Dividend

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

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.