Weiss Asset Management LP Takes $4.81 Million Position in Quanta Services, Inc. $PWR

Weiss Asset Management LP bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,760 shares of the construction company’s stock, valued at approximately $4,809,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Quanta Services during the 4th quarter valued at about $817,285,000. Victory Capital Management Inc. boosted its stake in shares of Quanta Services by 35.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock worth $1,230,493,000 after buying an additional 758,862 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Quanta Services by 137.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company’s stock worth $486,065,000 after acquiring an additional 667,050 shares during the period. Sands Capital Management LLC purchased a new position in Quanta Services during the fourth quarter valued at approximately $243,485,000. Finally, Select Equity Group L.P. lifted its holdings in Quanta Services by 69.3% in the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock valued at $384,554,000 after acquiring an additional 416,395 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Up 0.0%

Shares of PWR stock opened at $626.03 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. The company has a market cap of $93.94 billion, a price-to-earnings ratio of 85.88, a PEG ratio of 2.46 and a beta of 1.21. The stock has a 50 day simple moving average of $689.96 and a 200-day simple moving average of $606.79. Quanta Services, Inc. has a 1-year low of $363.01 and a 1-year high of $788.75.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.64. The firm had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The business’s revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities research analysts expect that Quanta Services, Inc. will post 12.8 EPS for the current fiscal year.

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

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were given a $0.11 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is 6.04%.

Insider Transactions at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total value of $20,032,294.32. Following the transaction, the chief executive officer directly owned 16,508 shares of the company’s stock, valued at approximately $12,722,880.68. This trade represents a 61.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the business’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 sale, the chief accounting officer owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,992 shares of company stock valued at $123,244,714 in the last three months. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. BNP Paribas Exane started coverage on shares of Quanta Services in a research note on Tuesday, April 14th. They set a “neutral” rating on the stock. Citigroup increased their price target on shares of Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Truist Financial raised their price target on shares of Quanta Services from $851.00 to $940.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Cantor Fitzgerald lifted their price objective on shares of Quanta Services from $630.00 to $901.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, BMO Capital Markets upped their price objective on shares of Quanta Services from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Seventeen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $745.55.

About Quanta Services

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.