Quanta Services, Inc. $PWR Shares Purchased by Glenview Trust Co

Glenview Trust Co grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 5.6% during the first quarter, Holdings Channel reports. The institutional investor owned 17,375 shares of the construction company’s stock after acquiring an additional 915 shares during the period. Glenview Trust Co’s holdings in Quanta Services were worth $9,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Quanta Services during the fourth quarter valued at approximately $817,285,000. Victory Capital Management Inc. lifted its position in Quanta Services by 35.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock worth $1,230,493,000 after purchasing an additional 758,862 shares during the period. Corient Private Wealth LLC boosted its stake in Quanta Services by 137.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company’s stock valued at $486,065,000 after purchasing an additional 667,050 shares in the last quarter. Sands Capital Management LLC bought a new position in Quanta Services during the 4th quarter valued at $243,485,000. Finally, Select Equity Group L.P. increased 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 purchasing an additional 416,395 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PWR. Truist Financial boosted their price objective on Quanta Services from $851.00 to $940.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Evercore lifted their target price on Quanta Services from $635.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Jefferies Financial Group dropped their price target on shares of Quanta Services from $857.00 to $784.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. TD Cowen upped their price target on shares of Quanta Services from $570.00 to $775.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Quanta Services from $685.00 to $826.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $749.68.

Insider Transactions at Quanta Services

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction dated 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the completion of the transaction, the chief executive officer owned 16,508 shares of the company’s stock, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 159,992 shares of company stock valued at $123,244,714 over the last ninety days. Insiders own 0.60% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $633.11 on Tuesday. 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 company has a market capitalization of $95.00 billion, a PE ratio of 86.85, a price-to-earnings-growth ratio of 2.47 and a beta of 1.21. The stock has a fifty day moving average of $700.55 and a 200-day moving average of $600.86. Quanta Services, Inc. has a one year low of $363.01 and a one year high of $788.75.

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

Quanta Services Announces Dividend

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

Quanta Services announced that its board has initiated a share buyback plan on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.