Quanta Services, Inc. $PWR Shares Bought by Mengis Capital Management Inc.

Mengis Capital Management Inc. lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,740 shares of the construction company’s stock after purchasing an additional 1,515 shares during the period. Quanta Services comprises about 2.1% of Mengis Capital Management Inc.’s holdings, making the stock its 11th largest position. Mengis Capital Management Inc.’s holdings in Quanta Services were worth $12,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC grew its stake in Quanta Services by 321.4% during 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 during the last quarter. Darwin Wealth Management LLC purchased a new stake in Quanta Services in the second quarter valued at approximately $26,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $28,000. MV Capital Management Inc. purchased a new position in shares of Quanta Services during the fourth quarter worth approximately $30,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Quanta Services by 221.7% in the 4th quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock valued at $31,000 after acquiring an additional 51 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on PWR shares. Mizuho increased their price target on shares of Quanta Services from $580.00 to $693.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. CICC Research started coverage on shares of Quanta Services in a research note on Thursday, May 21st. They set an “outperform” rating and a $872.00 target price for the company. Zacks Research raised Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. Weiss Ratings upgraded Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. Finally, DA Davidson increased their price objective on Quanta Services from $450.00 to $575.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $733.87.

Quanta Services Stock Up 0.3%

PWR opened at $704.35 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. Quanta Services, Inc. has a 12 month low of $358.38 and a 12 month high of $788.75. The stock has a market capitalization of $105.70 billion, a P/E ratio of 96.62, a P/E/G ratio of 2.76 and a beta of 1.20. The business has a 50 day simple moving average of $690.42 and a 200-day simple moving average of $565.56.

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, topping analysts’ consensus estimates 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 quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities analysts anticipate that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s payout ratio is currently 6.04%.

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

Insider Activity

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,992 shares of company stock worth $123,244,714 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

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.