OP Asset Management Ltd Invests $56.43 Million in Quanta Services, Inc. $PWR

OP Asset Management Ltd purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 1st quarter, Holdings Channel reports. The fund purchased 102,779 shares of the construction company’s stock, valued at approximately $56,428,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. Norges Bank acquired a new position in Quanta Services during the 4th quarter valued at about $817,285,000. Bank of America Corp DE grew its position in shares of Quanta Services by 35.6% during the 3rd quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock worth $1,208,672,000 after buying 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 worth $1,230,493,000 after buying an additional 758,862 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Quanta Services by 137.6% in the fourth quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company’s stock valued at $486,065,000 after buying an additional 667,050 shares during the period. Finally, Sands Capital Management LLC acquired a new position in Quanta Services in the fourth quarter valued at approximately $243,485,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on PWR shares. Robert W. Baird lifted their target price 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. The Goldman Sachs Group raised their price target on Quanta Services from $685.00 to $826.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Cantor Fitzgerald lifted their price objective on Quanta Services from $630.00 to $901.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Roth Mkm increased their target price on Quanta Services from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Finally, BMO Capital Markets raised 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. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $733.87.

Quanta Services Trading Up 0.1%

PWR opened at $702.98 on Thursday. Quanta Services, Inc. has a twelve month low of $363.01 and a twelve month high of $788.75. The firm has a market cap of $105.49 billion, a PE ratio of 96.43, a price-to-earnings-growth ratio of 2.76 and a beta of 1.20. 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 firm’s fifty day moving average is $698.13 and its two-hundred day moving average is $571.80.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.64. The business had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities research analysts anticipate that Quanta Services, Inc. will post 12.82 EPS for the current year.

Quanta Services Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, July 1st. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. Quanta Services’s payout ratio is currently 6.04%.

Quanta Services announced that its Board of Directors has initiated a share buyback plan on Friday, May 22nd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Quanta Services news, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 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 SEC filing for this sale provides additional information. Over the last three months, insiders have sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is owned by company insiders.

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.