Quanta Services, Inc. $PWR Shares Sold by Strs Ohio

Strs Ohio lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 44.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,822 shares of the construction company’s stock after selling 13,506 shares during the period. Strs Ohio’s holdings in Quanta Services were worth $9,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its stake in Quanta Services by 2.1% during the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock valued at $2,619,626,000 after acquiring an additional 126,014 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Quanta Services by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock worth $1,718,371,000 after purchasing an additional 110,360 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Quanta Services by 35.6% during the third quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock valued at $1,208,672,000 after purchasing an additional 765,822 shares during the period. Victory Capital Management Inc. raised its stake in shares of Quanta Services by 35.2% during the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock valued at $1,230,493,000 after purchasing an additional 758,862 shares in the last quarter. Finally, Norges Bank acquired a new stake in Quanta Services in the fourth quarter worth about $817,285,000. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the topic of several research analyst reports. Zacks Research raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. UBS Group raised their price objective on shares of Quanta Services from $646.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Robert W. Baird boosted their target price on Quanta Services from $606.00 to $777.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Citigroup upped their target price on Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Quanta Services in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $755.18.

Insider Activity

In related news, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 8,080 shares in the company, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services 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 transaction, the chief executive officer owned 556,911 shares in the company, valued at approximately $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 159,992 shares of company stock valued at $123,244,714. Corporate insiders own 0.60% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $667.73 on Monday. The company has a market capitalization of $100.20 billion, a PE ratio of 91.60, a price-to-earnings-growth ratio of 2.63 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. The stock has a fifty day moving average of $711.52 and a 200-day moving average of $583.67. Quanta Services, Inc. has a one year low of $363.01 and a one year high of $788.75.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The business had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the firm posted $1.78 EPS. The company’s quarterly revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, equities analysts anticipate that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Quanta Services declared that its Board of Directors has authorized a share repurchase plan on Friday, May 22nd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the construction company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is 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.