Quanta Services, Inc. $PWR Stock Position Trimmed by AMI Asset Management Corp

AMI Asset Management Corp lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 28.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 142,443 shares of the construction company’s stock after selling 56,691 shares during the period. Quanta Services accounts for 5.0% of AMI Asset Management Corp’s portfolio, making the stock its 4th largest position. AMI Asset Management Corp’s holdings in Quanta Services were worth $78,204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Quanta Services in the first quarter worth approximately $494,000. SevenBridge Financial Group LLC lifted its holdings in shares of Quanta Services by 0.7% in the 1st quarter. SevenBridge Financial Group LLC now owns 12,378 shares of the construction company’s stock worth $6,796,000 after acquiring an additional 80 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Quanta Services by 100.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 82 shares of the construction company’s stock valued at $45,000 after purchasing an additional 41 shares in the last quarter. Moss Adams Wealth Advisors LLC bought a new position in shares of Quanta Services during the 1st quarter valued at $253,000. Finally, EWA LLC raised its position in Quanta Services by 5.1% in the 1st quarter. EWA LLC now owns 778 shares of the construction company’s stock worth $427,000 after purchasing an additional 38 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction that occurred 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 directly owned 8,080 shares in the company, valued at $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total value of $100,184,500.00. Following the transaction, the chief executive officer directly owned 556,911 shares of the company’s stock, valued at $429,183,462.15. This represents a 18.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. Oppenheimer upgraded Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 target price for the company in a report on Thursday, May 28th. Truist Financial set a $851.00 price target on Quanta Services in a research report on Friday, May 1st. Finally, BMO Capital Markets lifted their price target on Quanta Services from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $733.87.

Quanta Services Stock Up 4.1%

Shares of Quanta Services stock opened at $715.80 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The company has a market cap of $107.41 billion, a P/E ratio of 98.19, a PEG ratio of 2.71 and a beta of 1.20. The company’s fifty day simple moving average is $705.10 and its two-hundred day simple moving average is $577.00.

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 during the quarter, compared to analysts’ expectations of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period last year, the company posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Research analysts anticipate that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Quanta Services Announces Dividend

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