NBT Bank N A NY Sells 911 Shares of Quanta Services, Inc. $PWR

NBT Bank N A NY lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 15.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,123 shares of the construction company’s stock after selling 911 shares during the quarter. NBT Bank N A NY’s holdings in Quanta Services were worth $2,813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp raised its holdings in Quanta Services by 2.1% in the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock worth $2,619,626,000 after acquiring an additional 126,014 shares during the period. Geode Capital Management LLC boosted its holdings in Quanta Services by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock valued at $1,718,371,000 after acquiring an additional 110,360 shares during the period. Bank of America Corp DE boosted its holdings in Quanta Services by 35.6% during the third 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. grew its position in shares of 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 valued at $1,230,493,000 after purchasing an additional 758,862 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Quanta Services in the fourth quarter worth about $817,285,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PWR. Truist Financial increased their target price on Quanta Services from $851.00 to $940.00 and gave the company a “buy” rating in a research note on Thursday. CICC Research assumed coverage on Quanta Services in a research report on Thursday, May 21st. They issued an “outperform” rating and a $872.00 price objective for the company. UBS Group lifted their price target on Quanta Services from $646.00 to $900.00 and gave the company a “buy” rating in a report on Monday, May 4th. Zacks Research upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Finally, Jefferies Financial Group raised their price objective on shares of Quanta Services from $654.00 to $857.00 and gave the company a “buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $755.18.

Insider Activity at Quanta Services

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 value of $100,184,500.00. Following the transaction, the chief executive officer owned 556,911 shares of the company’s stock, valued at $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 159,992 shares of company stock worth $123,244,714 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Quanta Services Trading Down 0.1%

PWR stock opened at $667.73 on Friday. 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 twelve month low of $363.01 and a twelve month high of $788.75. The company has a market cap of $100.20 billion, a P/E ratio of 91.60, a PEG ratio of 2.63 and a beta of 1.21. The business has a fifty day moving average of $711.52 and a 200-day moving average of $582.63.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.64. The firm had revenue of $7.87 billion during 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 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. As a group, equities research analysts expect that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Quanta Services’s payout ratio is 6.04%.

Quanta Services announced that its board has authorized a stock buyback program on Friday, May 22nd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase 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 stock is undervalued.

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.