Fortitude Advisory Group L.L.C. Boosts Holdings in Quanta Services, Inc. $PWR

Fortitude Advisory Group L.L.C. raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 58.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,107 shares of the construction company’s stock after acquiring an additional 1,147 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Quanta Services were worth $1,311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC grew its holdings in 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 buying an additional 45 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Quanta Services in the 4th quarter valued at about $28,000. Darwin Wealth Management LLC purchased a new stake in shares of Quanta Services during the 2nd quarter worth about $26,000. Meeder Asset Management Inc. grew its holdings in shares of Quanta Services by 221.7% during the 4th quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock worth $31,000 after purchasing an additional 51 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Quanta Services by 266.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 77 shares of the construction company’s stock worth $32,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 556,911 shares of the company’s stock, valued at approximately $429,183,462.15. The trade was a 18.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 8,080 shares in the company, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 159,992 shares of company stock worth $123,244,714 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PWR. Wolfe Research boosted their target price on Quanta Services from $477.00 to $576.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Truist Financial set a $851.00 target price on Quanta Services in a report on Friday, May 1st. DA Davidson boosted their target price on Quanta Services from $450.00 to $575.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Evercore boosted 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. Finally, The Goldman Sachs Group boosted their target price on Quanta Services from $685.00 to $826.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $733.87.

Quanta Services Stock Performance

Quanta Services stock opened at $708.86 on Friday. The stock’s 50 day moving average price is $675.23 and its 200 day moving average price is $556.55. The firm has a market capitalization of $106.37 billion, a PE ratio of 97.24, a price-to-earnings-growth ratio of 2.78 and a beta of 1.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. Quanta Services, Inc. has a one year low of $349.06 and a one year high of $788.75.

Quanta Services (NYSE:PWR) last released its quarterly 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 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%.Quanta Services’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services declared that its Board of Directors has initiated a share 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 repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Quanta Services Dividend Announcement

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