Sei Investments Co. Reduces Position in Quanta Services, Inc. $PWR

Sei Investments Co. decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 14.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 251,290 shares of the construction company’s stock after selling 40,897 shares during the quarter. Sei Investments Co. owned approximately 0.17% of Quanta Services worth $137,967,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PWR. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Quanta Services by 2.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company’s stock valued at $282,000 after buying an additional 13 shares during the last quarter. SouthState Bank Corp increased its stake in shares of Quanta Services by 23.5% in the first quarter. SouthState Bank Corp now owns 84 shares of the construction company’s stock worth $46,000 after buying an additional 16 shares during the last quarter. Lewis Asset Management LLC raised its holdings in Quanta Services by 2.5% in the first quarter. Lewis Asset Management LLC now owns 692 shares of the construction company’s stock valued at $380,000 after acquiring an additional 17 shares in the last quarter. Stiles Financial Services Inc boosted its stake in Quanta Services by 1.8% during the 1st quarter. Stiles Financial Services Inc now owns 987 shares of the construction company’s stock valued at $542,000 after acquiring an additional 17 shares during the last quarter. Finally, Ethos Financial Group LLC boosted its stake in Quanta Services by 1.8% during the 1st quarter. Ethos Financial Group LLC now owns 1,064 shares of the construction company’s stock valued at $584,000 after acquiring an additional 19 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWR has been the subject of several research analyst reports. Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Cantor Fitzgerald lifted their price target on Quanta Services from $630.00 to $901.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings lowered Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Evercore upped their price objective on Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Citigroup increased their target price on Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Seventeen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $745.55.

Insider Buying and Selling

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of the company’s stock in a transaction 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 directly owned 16,508 shares in the company, valued at $12,722,880.68. This represents a 61.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $756.98, for a total value of $3,027,920.00. Following the completion of the sale, the chief accounting officer directly owned 8,080 shares in the company, valued at $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 159,992 shares of company stock worth $123,244,714 over the last quarter. Insiders own 0.60% of the company’s stock.

Quanta Services Trading Up 1.6%

Quanta Services stock opened at $653.25 on Friday. The firm’s 50-day moving average is $692.83 and its 200-day moving average is $605.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. Quanta Services, Inc. has a 1 year low of $363.01 and a 1 year high of $788.75. The company has a market cap of $98.03 billion, a P/E ratio of 89.61, a PEG ratio of 2.53 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 analysts’ consensus estimates of $2.04 by $0.64. The business had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities analysts expect that Quanta Services, Inc. will post 12.8 earnings per share for the current year.

Quanta Services Dividend Announcement

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

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

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.