Cannell & Spears LLC Sells 1,432 Shares of Quanta Services, Inc. $PWR

Cannell & Spears LLC trimmed its stake 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 fund owned 122,280 shares of the construction company’s stock after selling 1,432 shares during the quarter. Quanta Services makes up 1.3% of Cannell & Spears LLC’s holdings, making the stock its 19th biggest position. Cannell & Spears LLC owned approximately 0.08% of Quanta Services worth $67,134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. State Street Corp grew its holdings in Quanta Services by 2.1% during the fourth quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock valued at $2,619,626,000 after purchasing an additional 126,014 shares during the period. Geode Capital Management LLC lifted its position in shares of Quanta Services by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock valued at $1,718,371,000 after buying an additional 110,360 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Quanta Services by 35.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock valued at $1,230,493,000 after buying an additional 758,862 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Quanta Services by 4.9% during the 2nd quarter. Bank of America Corp DE now owns 2,150,718 shares of the construction company’s stock worth $813,144,000 after acquiring an additional 99,782 shares during the period. Finally, Norges Bank purchased a new stake in Quanta Services in the 4th quarter worth about $817,285,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the completion of the transaction, the chief executive officer owned 16,508 shares in the company, valued at $12,722,880.68. This represents a 61.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the business’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 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 159,992 shares of company stock worth $123,244,714. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

PWR has been the topic of several recent research reports. UBS Group upped their price objective on shares of Quanta Services from $646.00 to $900.00 and gave the company a “buy” rating in a report on Monday, May 4th. The Goldman Sachs Group boosted their price target on shares of Quanta Services from $685.00 to $826.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Roth Capital upped their price target on shares of Quanta Services from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Mizuho set a $645.00 price objective on shares of Quanta Services in a report on Monday. Finally, Stifel Nicolaus set a $784.00 price objective on shares of Quanta Services in a research note on Friday, May 1st. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $745.55.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $626.03 on Friday. The stock’s 50-day moving average is $689.96 and its 200 day moving average is $605.59. Quanta Services, Inc. has a 1-year low of $363.01 and a 1-year high of $788.75. The stock has a market cap of $93.94 billion, a price-to-earnings ratio of 85.88, a P/E/G ratio of 2.57 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The business’s quarterly 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. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 12.8 EPS for the current fiscal year.

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

Quanta Services Announces Dividend

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