Quanta Services, Inc. $PWR Stake Reduced by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.5% in the second quarter, HoldingsChannel.com reports. The firm owned 141,309 shares of the construction company’s stock after selling 16,651 shares during the quarter. Quanta Services comprises approximately 7.6% of Washington Trust Advisors Inc.’s holdings, making the stock its largest holding. Washington Trust Advisors Inc.’s holdings in Quanta Services were worth $101,749,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC grew its holdings in Quanta Services by 2.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company’s stock worth $282,000 after acquiring an additional 13 shares during the last quarter. Pincus Capital Management LP raised its stake in shares of Quanta Services by 0.4% during the first quarter. Pincus Capital Management LP now owns 3,690 shares of the construction company’s stock valued at $2,026,000 after acquiring an additional 15 shares during the last quarter. SouthState Bank Corp boosted its holdings in shares of Quanta Services by 23.5% during the first quarter. SouthState Bank Corp now owns 84 shares of the construction company’s stock worth $46,000 after purchasing an additional 16 shares during the period. Lewis Asset Management LLC grew its stake in shares of Quanta Services by 2.5% in the first quarter. Lewis Asset Management LLC now owns 692 shares of the construction company’s stock worth $380,000 after purchasing an additional 17 shares during the last quarter. Finally, Stiles Financial Services Inc increased its holdings 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 purchasing an additional 17 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

PWR opened at $623.80 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 0.56. The company has a market cap of $93.78 billion, a price-to-earnings ratio of 71.45, a price-to-earnings-growth ratio of 2.05 and a beta of 1.20. The stock has a fifty day simple moving average of $651.88 and a two-hundred day simple moving average of $643.44. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, July 30th. The construction company reported $4.24 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.93. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.61 billion. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The company’s quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.48 EPS. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. Research analysts predict that Quanta Services, Inc. will post 15.35 earnings per share for the current fiscal year.

Quanta Services announced that its Board of Directors has approved a share repurchase program on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase 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 stock is undervalued.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Thursday, October 1st. Quanta Services’s dividend payout ratio is 5.04%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Weiss Ratings lowered Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Benchmark cut Quanta Services to a “sell” rating in a research note on Friday, July 31st. Zacks Research raised Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Argus set a $800.00 price target on shares of Quanta Services in a report on Wednesday, August 5th. Finally, KeyCorp raised shares of Quanta Services from a “sector weight” rating to an “overweight” rating and set a $807.00 price objective on the stock in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $769.25.

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.