Sequoia Financial Advisors LLC Sells 1,592 Shares of Quanta Services, Inc. $PWR

Sequoia Financial Advisors LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,844 shares of the construction company’s stock after selling 1,592 shares during the quarter. Sequoia Financial Advisors LLC owned 0.09% of Quanta Services worth $70,738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cedar Mountain Advisors LLC raised its holdings 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 worth $25,000 after buying an additional 45 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Quanta Services in the 4th quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in Quanta Services in the second quarter valued at $26,000. MV Capital Management Inc. acquired a new position in Quanta Services during the fourth quarter worth $30,000. Finally, Brown Lisle Cummings Inc. lifted its holdings in shares of Quanta Services by 825.0% during the first quarter. Brown Lisle Cummings Inc. now owns 74 shares of the construction company’s stock valued at $41,000 after acquiring an additional 66 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PWR. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $627.00 to $805.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. Cantor Fitzgerald upped their price objective on shares of Quanta Services from $630.00 to $901.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Jefferies Financial Group cut their target price on shares of Quanta Services from $857.00 to $784.00 and set a “buy” rating for the company in a research note on Friday. Finally, B. Riley Financial reaffirmed a “neutral” rating on shares of Quanta Services in a report on Friday, May 1st. Nineteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $751.86.

Quanta Services Price Performance

Shares of Quanta Services stock traded down $10.20 during midday trading on Friday, reaching $657.97. The company had a trading volume of 847,048 shares, compared to its average volume of 1,380,968. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $714.79 and a 200 day simple moving average of $590.92. Quanta Services, Inc. has a 1-year low of $363.01 and a 1-year high of $788.75. The company has a market capitalization of $98.73 billion, a price-to-earnings ratio of 90.26, a price-to-earnings-growth ratio of 2.63 and a beta of 1.21.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the firm earned $1.78 EPS. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, equities research analysts forecast that Quanta Services, Inc. will post 12.8 earnings per share for the current year.

Quanta Services Dividend Announcement

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 of Directors has authorized a share repurchase plan on Friday, May 22nd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the sale, the chief executive officer 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer owned 8,080 shares of the company’s stock, valued at $6,116,398.40. The trade was a 33.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 159,992 shares of company stock worth $123,244,714. Insiders own 0.60% of the company’s stock.

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.