Summit Wealth Group LLC Co. Makes New Investment in Quanta Services, Inc. $PWR

Summit Wealth Group LLC Co. bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,194 shares of the construction company’s stock, valued at approximately $926,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lansforsakringar Fondforvaltning AB publ grew its stake in shares of Quanta Services by 5.4% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 46,609 shares of the construction company’s stock worth $19,316,000 after buying an additional 2,375 shares during the last quarter. Chilton Capital Management LLC grew its stake in shares of Quanta Services by 63.3% in the third quarter. Chilton Capital Management LLC now owns 166,536 shares of the construction company’s stock worth $69,016,000 after purchasing an additional 64,560 shares during the last quarter. Yahav Achim Ve Achayot Provident Funds Management Co Ltd. bought a new stake in shares of Quanta Services in the third quarter worth $1,752,000. Atria Investments Inc grew its stake in shares of Quanta Services by 20.4% in the third quarter. Atria Investments Inc now owns 13,818 shares of the construction company’s stock worth $5,727,000 after purchasing an additional 2,340 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Quanta Services by 44.4% in the third quarter. Westfield Capital Management Co. LP now owns 245,506 shares of the construction company’s stock worth $101,743,000 after purchasing an additional 75,449 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In related news, 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 value of $3,027,920.00. Following the transaction, the chief accounting officer owned 8,080 shares in the company, valued at $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 556,911 shares in the company, valued at $429,183,462.15. This represents a 18.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Truist Financial set a $851.00 price objective on shares of Quanta Services in a research note on Friday, May 1st. BMO Capital Markets boosted their price objective on shares of Quanta Services from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Jefferies Financial Group boosted their price objective on shares of Quanta Services from $654.00 to $857.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Citigroup boosted their price objective on shares of Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, The Goldman Sachs Group boosted their price objective on shares of Quanta Services from $685.00 to $826.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $708.05.

Quanta Services Price Performance

PWR stock opened at $766.12 on Wednesday. The firm has a market cap of $114.96 billion, a price-to-earnings ratio of 105.09, a PEG ratio of 2.68 and a beta of 1.24. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a 12-month low of $320.56 and a 12-month high of $788.75. The company’s fifty day simple moving average is $603.73 and its 200 day simple moving average is $512.59.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.64. The business had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. Quanta Services’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, analysts expect that Quanta Services, Inc. will post 12.84 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Thursday, April 2nd were issued a $0.11 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $0.44 annualized dividend and a yield of 0.1%. Quanta Services’s payout ratio is presently 6.04%.

Quanta Services Company 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.