Fulton Bank N.A. Has $6.17 Million Position in Quanta Services, Inc. $PWR

Fulton Bank N.A. cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,569 shares of the construction company’s stock after selling 989 shares during the quarter. Fulton Bank N.A.’s holdings in Quanta Services were worth $6,170,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its holdings in Quanta Services by 5.8% in the 1st quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company’s stock worth $40,701,000 after acquiring an additional 4,087 shares during the period. Evoke Wealth LLC bought a new stake in Quanta Services during the fourth quarter valued at about $368,000. Sequoia Financial Advisors LLC boosted its holdings in Quanta Services by 3.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company’s stock valued at $55,052,000 after acquiring an additional 3,966 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Quanta Services by 9.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,602 shares of the construction company’s stock valued at $21,357,000 after purchasing an additional 4,568 shares during the last quarter. Finally, Lebenthal Global Advisors LLC increased its stake in shares of Quanta Services by 9.8% in the fourth quarter. Lebenthal Global Advisors LLC now owns 9,277 shares of the construction company’s stock worth $3,915,000 after purchasing an additional 830 shares during the period. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on PWR shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $714.00 target price on shares of Quanta Services in a research note on Tuesday, July 21st. Stifel Nicolaus set a $784.00 price target on Quanta Services in a research report on Friday, May 1st. BMO Capital Markets upped their price target on Quanta Services from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Truist Financial reissued a “buy” rating and issued a $976.00 price objective (up from $940.00) on shares of Quanta Services in a research report on Monday, August 3rd. Finally, UBS Group assumed coverage on shares of Quanta Services in a research note on Friday, July 31st. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $767.21.

Quanta Services Stock Performance

NYSE PWR opened at $659.23 on Tuesday. Quanta Services, Inc. has a twelve month low of $363.01 and a twelve month high of $788.75. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 0.56. The stock has a market cap of $99.11 billion, a P/E ratio of 75.51, a PEG ratio of 2.21 and a beta of 1.23. The company’s 50-day simple moving average is $674.73 and its 200 day simple moving average is $622.86.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $4.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.93. Quanta Services had a return on equity of 20.55% and a net margin of 4.03%.The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.61 billion. During the same period in the previous year, the business earned $2.48 earnings per share. The company’s quarterly revenue was up 41.1% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. As a group, research analysts forecast that Quanta Services, Inc. will post 15.33 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Wednesday, July 1st were paid 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 payout ratio is currently 5.04%.

Quanta Services declared that its Board of Directors has initiated a share buyback plan on Friday, May 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.