D.A. Davidson & CO. Has $24.42 Million Position in Quanta Services, Inc. $PWR

D.A. Davidson & CO. cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 7.1% in the first quarter, Holdings Channel.com reports. The fund owned 44,473 shares of the construction company’s stock after selling 3,407 shares during the quarter. D.A. Davidson & CO.’s holdings in Quanta Services were worth $24,417,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Cedar Mountain Advisors LLC lifted its stake in shares of Quanta Services by 321.4% in the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock valued at $25,000 after purchasing an additional 45 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Quanta Services during the second quarter worth $26,000. Flagship Harbor Advisors LLC bought a new position in Quanta Services during the fourth quarter valued at about $28,000. MV Capital Management Inc. bought a new position in Quanta Services during the fourth quarter valued at about $30,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Quanta Services by 221.7% in the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock worth $31,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insiders Place Their Bets

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer directly owned 8,080 shares in the company, valued at $6,116,398.40. This trade represents a 33.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the transaction, the chief executive officer owned 556,911 shares in the company, valued at approximately $429,183,462.15. The trade was a 18.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 159,992 shares of company stock worth $123,244,714 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Quanta Services Trading Down 1.8%

Quanta Services stock opened at $648.82 on Thursday. Quanta Services, Inc. has a 52 week low of $363.01 and a 52 week high of $788.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. The firm has a market capitalization of $97.36 billion, a PE ratio of 89.00, a PEG ratio of 2.60 and a beta of 1.21. The business’s 50-day simple moving average is $708.21 and its 200-day simple moving average is $596.64.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%.The company’s revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the firm 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 12.8 earnings per share for the current year.

Quanta Services announced that its board has authorized a share repurchase program on Friday, May 22nd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Quanta Services Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on PWR. UBS Group increased their price objective on Quanta Services from $646.00 to $900.00 and gave the company a “buy” rating in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on Quanta Services from $627.00 to $805.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Robert W. Baird upped their target price on Quanta Services from $606.00 to $777.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Oppenheimer raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 price target on the stock in a research report on Thursday, May 28th. Finally, Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. Nineteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $751.86.

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.