Bank of New York Mellon Corp Lowers Position in Quanta Services, Inc. $PWR

Bank of New York Mellon Corp lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 0.1% during the first quarter, Holdings Channel reports. The firm owned 917,368 shares of the construction company’s stock after selling 1,293 shares during the period. Bank of New York Mellon Corp’s holdings in Quanta Services were worth $503,653,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Cedar Mountain Advisors LLC raised its position 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 last quarter. Darwin Wealth Management LLC purchased a new position in Quanta Services during the 2nd quarter worth $26,000. Flagship Harbor Advisors LLC purchased a new position in Quanta Services during the 4th quarter worth $28,000. MV Capital Management Inc. bought a new stake in shares of Quanta Services in the 4th quarter worth $30,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Quanta Services by 221.7% in the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock valued at $31,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PWR. CICC Research began coverage on shares of Quanta Services in a research report on Thursday, May 21st. They set an “outperform” rating and a $872.00 price target on the stock. Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Robert W. Baird increased their price objective on shares of Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Citigroup boosted their target price on Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, TD Cowen increased their price target on Quanta Services from $570.00 to $775.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Nineteen 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, the company has an average rating of “Moderate Buy” and an average price target of $751.86.

Quanta Services Trading Down 2.9%

NYSE:PWR opened at $630.09 on Friday. Quanta Services, Inc. has a 12 month low of $363.01 and a 12 month high of $788.75. 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 firm’s 50 day moving average is $705.81 and its 200 day moving average is $598.03. The stock has a market capitalization of $94.55 billion, a PE ratio of 86.43, a price-to-earnings-growth ratio of 2.55 and a beta of 1.21.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 analyst estimates of $7 billion. During the same period in the prior year, the company earned $1.78 earnings per share. Quanta Services’s revenue 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. Sell-side analysts expect that Quanta Services, Inc. will post 12.8 earnings per share for the current year.

Quanta Services Announces Dividend

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

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

Insider Activity

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value of $20,032,294.32. Following the sale, the chief executive officer directly owned 16,508 shares in the company, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $3,027,920.00. Following the sale, the chief accounting officer owned 8,080 shares in the company, valued at $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by insiders.

Quanta Services Company 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.