Norges Bank Takes Position in Quanta Services, Inc. $PWR

Norges Bank bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,936,420 shares of the construction company’s stock, valued at approximately $817,285,000. Norges Bank owned about 1.30% of Quanta Services as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PWR. Darwin Wealth Management LLC purchased a new stake in shares of Quanta Services in the 2nd quarter worth $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Quanta Services in the 4th quarter worth $28,000. Cornerstone Planning Group LLC lifted its holdings in shares of Quanta Services by 213.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock worth $30,000 after buying an additional 49 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in shares of Quanta Services by 266.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 77 shares of the construction company’s stock worth $32,000 after buying an additional 56 shares during the period. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Quanta Services in the 4th quarter worth $34,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BNP Paribas Exane assumed coverage on Quanta Services in a report on Tuesday, April 14th. They issued a “neutral” rating for the company. Roth Mkm upped their target price on Quanta Services from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 6th. BMO Capital Markets upped their target price on Quanta Services from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Sanford C. Bernstein upped their target price on Quanta Services from $538.00 to $725.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. Finally, Stifel Nicolaus set a $784.00 target price on 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 given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $733.87.

Insiders Place Their Bets

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total value of $100,184,500.00. Following the completion of the transaction, the chief executive officer owned 556,911 shares in the company, valued at $429,183,462.15. This trade represents a 18.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Paul Nobel sold 4,000 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer owned 8,080 shares of the company’s stock, valued at $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 a total of 159,992 shares of company stock valued at $123,244,714 in the last 90 days. 0.60% of the stock is currently owned by company insiders.

Quanta Services Stock Performance

Shares of PWR opened at $710.34 on Friday. Quanta Services, Inc. has a 12 month low of $336.57 and a 12 month high of $788.75. The stock has a fifty day moving average price of $647.92 and a 200-day moving average price of $538.51. 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 firm has a market cap of $106.59 billion, a PE ratio of 97.44, a P/E/G ratio of 2.44 and a beta of 1.24.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter 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. Equities research analysts predict that Quanta Services, Inc. will post 12.84 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a $0.11 dividend. The ex-dividend date 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 (DPR) is 6.04%.

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