Quanta Services, Inc. $PWR Shares Purchased by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.1% during the first quarter, HoldingsChannel.com reports. The fund owned 1,264,827 shares of the construction company’s stock after purchasing an additional 83,363 shares during the quarter. Royal Bank of Canada’s holdings in Quanta Services were worth $694,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC purchased a new position in Quanta Services during the 4th quarter worth $298,000. Woodline Partners LP raised its stake in Quanta Services by 40.7% during the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after acquiring an additional 3,606 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Quanta Services during the 2nd quarter worth approximately $4,632,000. Marshall Wace LLP purchased a new position in shares of Quanta Services in the 2nd quarter valued at approximately $996,000. Finally, StoneX Group Inc. acquired a new position in shares of Quanta Services in the second quarter valued at approximately $204,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 5.2%

PWR stock opened at $588.03 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $685.36 and its 200 day moving average price is $609.13. Quanta Services, Inc. has a 52 week low of $363.01 and a 52 week high of $788.75. The company has a market cap of $88.24 billion, a P/E ratio of 80.66, a P/E/G ratio of 2.44 and a beta of 1.21.

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, beating analysts’ consensus estimates of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the company posted $1.78 earnings per share. The firm’s quarterly revenue was up 26.3% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, research analysts expect that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Mizuho set a $645.00 price target on Quanta Services in a report on Monday, July 20th. Robert W. Baird increased their price target on shares of Quanta Services from $606.00 to $777.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Sanford C. Bernstein lifted their price objective on Quanta Services from $538.00 to $725.00 and gave the company a “market perform” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $714.00 target price on shares of Quanta Services in a research report on Tuesday, July 21st. Finally, TD Cowen raised their price target on Quanta Services from $570.00 to $775.00 and gave the company a “buy” rating in a report on Monday, May 4th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $745.55.

Insider Transactions at Quanta Services

In other Quanta Services 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 transaction of $20,032,294.32. Following the completion of the transaction, the chief executive officer directly owned 16,508 shares in the company, valued at approximately $12,722,880.68. This trade represents a 61.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the transaction, the chief accounting officer owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is 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.