Quanta Services, Inc. $PWR Stock Position Cut by Fulton Bank N.A.

Fulton Bank N.A. decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,569 shares of the construction company’s stock after selling 989 shares during the period. Fulton Bank N.A.’s holdings in Quanta Services were worth $6,170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC raised its holdings in Quanta Services by 321.4% during the fourth quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock worth $25,000 after purchasing an additional 45 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Quanta Services during the 2nd quarter valued at $26,000. Boreal Capital Management LLC acquired a new position in shares of Quanta Services during the 1st quarter valued at $27,000. Flagship Harbor Advisors LLC acquired a new position in shares of Quanta Services during the 4th quarter valued at $28,000. Finally, MV Capital Management Inc. bought a new stake in shares of Quanta Services in the 4th quarter worth $30,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR opened at $659.23 on Tuesday. The company has a market capitalization of $99.11 billion, a PE ratio of 75.51, a PEG ratio of 2.21 and a beta of 1.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.05 and a current ratio of 1.10. The company’s 50 day moving average price is $674.73 and its 200 day moving average price is $622.86. Quanta Services, Inc. has a 52 week low of $363.01 and a 52 week high of $788.75.

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

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

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 dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Wednesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is currently 5.04%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. KeyCorp raised Quanta Services from a “sector weight” rating to an “overweight” rating and set a $807.00 target price for the company in a research note on Friday. Guggenheim upgraded shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $800.00 price target on the stock in a research report on Friday, July 31st. The Goldman Sachs Group upped their price target on shares of Quanta Services from $685.00 to $826.00 and gave the company a “buy” rating in a report on Monday, May 4th. Truist Financial reaffirmed a “buy” rating and issued a $976.00 price objective (up from $940.00) on shares of Quanta Services in a research note on Monday, August 3rd. Finally, TD Cowen boosted their target price on shares of Quanta Services from $775.00 to $785.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $767.21.

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.