Midwest Trust Co Buys 12,181 Shares of Quanta Services, Inc. $PWR

Midwest Trust Co boosted its position in Quanta Services, Inc. (NYSE:PWR) by 889.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,550 shares of the construction company’s stock after acquiring an additional 12,181 shares during the quarter. Midwest Trust Co’s holdings in Quanta Services were worth $7,439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in PWR. Cedar Mountain Advisors LLC grew its holdings in shares of Quanta Services by 321.4% during 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 purchased a new position in Quanta Services during the 2nd quarter valued at about $26,000. Flagship Harbor Advisors LLC bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $28,000. MV Capital Management Inc. bought a new position in Quanta Services in the 4th quarter worth $30,000. Finally, Meeder Asset Management Inc. raised its stake in 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 in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Down 0.1%

Shares of PWR stock opened at $657.97 on Monday. The company’s fifty day simple moving average is $714.79 and its two-hundred day simple moving average is $592.03. Quanta Services, Inc. has a 52 week low of $363.01 and a 52 week high of $788.75. The stock has a market cap of $98.73 billion, a P/E ratio of 90.26, a PEG ratio of 2.59 and a beta of 1.21. 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 (NYSE:PWR) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share 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 business had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the business posted $1.78 EPS. The firm’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. Analysts predict that Quanta Services, Inc. will post 12.8 EPS for the current fiscal 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 issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is presently 6.04%.

Quanta Services declared that its Board of Directors has approved a share buyback program on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

PWR has been the subject of a number of research reports. Stifel Nicolaus set a $784.00 price objective on Quanta Services in a report on Friday, May 1st. Oppenheimer upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 price objective for the company in a report on Thursday, May 28th. Zacks Research cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Truist Financial increased their price target on Quanta Services from $851.00 to $940.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, UBS Group increased their price objective on shares of Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $751.86.

Insider Buying and Selling

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated 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 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 document filed 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 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 transaction, the chief accounting officer directly owned 8,080 shares in the company, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 159,992 shares of company stock valued at $123,244,714. Company 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.