Hsbc Holdings PLC Increases Stake in Quanta Services, Inc. $PWR

Hsbc Holdings PLC raised its stake in Quanta Services, Inc. (NYSE:PWR) by 35.0% during the fourth quarter, Holdings Channel reports. The firm owned 393,854 shares of the construction company’s stock after purchasing an additional 102,119 shares during the period. Hsbc Holdings PLC’s holdings in Quanta Services were worth $166,506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Mengis Capital Management Inc. grew its stake in Quanta Services by 5.6% during the fourth quarter. Mengis Capital Management Inc. now owns 28,740 shares of the construction company’s stock worth $12,130,000 after buying an additional 1,515 shares during the period. Employees Provident Fund Board purchased a new position in shares of Quanta Services in the 4th quarter valued at $31,232,000. WMS Group LLC acquired a new position in shares of Quanta Services during the 4th quarter valued at $749,000. Reflection Asset Management acquired a new position in shares of Quanta Services during the 4th quarter valued at $89,000. Finally, Tobam boosted its position in Quanta Services by 2,381.3% during the 4th quarter. Tobam now owns 4,119 shares of the construction company’s stock worth $1,738,000 after purchasing an additional 3,953 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of PWR opened at $704.35 on Friday. The stock has a market capitalization of $105.70 billion, a PE ratio of 96.62, a price-to-earnings-growth ratio of 2.76 and a beta of 1.20. The business’s fifty day moving average price is $690.42 and its 200 day moving average price is $565.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. Quanta Services, Inc. has a 12-month low of $358.38 and a 12-month high of $788.75.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.64. The firm had revenue of $7.87 billion during 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%. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.44 annualized dividend and a yield of 0.1%. Quanta Services’s dividend payout ratio is 6.04%.

Quanta Services announced that its board has initiated a share repurchase plan on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PWR shares. Jefferies Financial Group increased their target price on Quanta Services from $654.00 to $857.00 and gave the company a “buy” rating in a research note on Monday, May 4th. UBS Group upped their price target on Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $627.00 to $805.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. BNP Paribas Exane started coverage on shares of Quanta Services in a research note on Tuesday, April 14th. They issued a “neutral” rating for the company. Finally, Zacks Research raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $733.87.

Insider Transactions at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the sale, the chief executive officer directly owned 556,911 shares in the company, valued at approximately $429,183,462.15. This represents a 18.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the firm’s stock in a transaction that occurred 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 approximately $6,116,398.40. This trade represents a 33.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 159,992 shares of company stock worth $123,244,714 in the last three months. 0.60% of the stock is currently owned by corporate insiders.

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.