Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 2,040 Shares of Quanta Services, Inc. $PWR

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.2% in the fourth quarter, Holdings Channel reports. The firm owned 26,120 shares of the construction company’s stock after selling 2,040 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Quanta Services were worth $11,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Quanta Services by 2.2% during the third quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company’s stock worth $7,519,079,000 after purchasing an additional 386,937 shares during the period. State Street Corp lifted its holdings in shares of Quanta Services by 1.2% during the third quarter. State Street Corp now owns 6,080,747 shares of the construction company’s stock valued at $2,519,983,000 after acquiring an additional 73,460 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Quanta Services by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock valued at $1,718,371,000 after acquiring an additional 110,360 shares during the period. Bank of America Corp DE lifted 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 acquiring an additional 765,822 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Quanta Services by 8.8% during the third quarter. Victory Capital Management Inc. now owns 2,156,578 shares of the construction company’s stock valued at $893,139,000 after acquiring an additional 174,083 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of analyst reports. Jefferies Financial Group lifted their price objective on Quanta Services from $654.00 to $857.00 and gave the company a “buy” rating in a report on Monday, May 4th. UBS Group lifted their price objective on Quanta Services from $646.00 to $900.00 and gave the company a “buy” rating in a report on Monday, May 4th. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. Stifel Nicolaus set a $784.00 target price on shares of Quanta Services in a research note on Friday, May 1st. Finally, Evercore lifted their target price on shares of Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $733.87.

Insider Activity at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were 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. The trade was a 18.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction 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 corporate insiders.

Quanta Services Stock Performance

Quanta Services stock opened at $696.07 on Friday. The stock has a 50-day simple moving average of $661.40 and a 200 day simple moving average of $547.76. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a 12-month low of $341.93 and a 12-month high of $788.75. The stock has a market capitalization of $104.45 billion, a price-to-earnings ratio of 95.48, a P/E/G ratio of 2.74 and a beta of 1.20.

Quanta Services (NYSE:PWR) last released its quarterly 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 return on equity of 18.64% and a net margin of 3.67%.The business had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the business posted $1.78 earnings per share. The firm’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. On average, research analysts anticipate that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Quanta Services announced that its Board of Directors has authorized a stock buyback program on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often 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.