Quanta Services, Inc. $PWR Shares Sold by Swedbank AB

Swedbank AB lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 12.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 609,776 shares of the construction company’s stock after selling 83,714 shares during the quarter. Swedbank AB owned approximately 0.41% of Quanta Services worth $334,779,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Quanta Services by 2.1% in the fourth quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock valued at $2,619,626,000 after purchasing an additional 126,014 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Quanta Services by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock worth $1,718,371,000 after purchasing an additional 110,360 shares in the last quarter. Bank of America Corp DE raised 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 purchasing an additional 765,822 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Quanta Services by 35.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock valued at $1,230,493,000 after buying an additional 758,862 shares in the last quarter. Finally, Norges Bank purchased a new stake in Quanta Services in the 4th quarter valued at approximately $817,285,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PWR shares. Evercore raised their price target on Quanta Services from $635.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. BNP Paribas Exane started coverage on Quanta Services in a research report on Tuesday, April 14th. They issued a “neutral” rating on the stock. Citigroup increased their price objective on Quanta Services from $640.00 to $733.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Truist Financial lifted their price objective on Quanta Services from $851.00 to $940.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, The Goldman Sachs Group upped their target price on shares of Quanta Services from $685.00 to $826.00 and gave the company a “buy” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $755.18.

Insiders Place Their Bets

In other news, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction 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 sale, the chief accounting officer directly owned 8,080 shares in the company, valued at $6,116,398.40. This represents a 33.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value 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 $12,722,880.68. This trade represents a 61.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 159,992 shares of company stock valued at $123,244,714. Insiders own 0.60% of the company’s stock.

Quanta Services Trading Down 4.2%

Shares of NYSE PWR traded down $28.48 on Tuesday, reaching $645.56. 368,933 shares of the company traded hands, compared to its average volume of 1,181,193. The stock has a market capitalization of $96.87 billion, a PE ratio of 88.79, a P/E/G ratio of 2.63 and a beta of 1.21. Quanta Services, Inc. has a fifty-two week low of $363.01 and a fifty-two week high of $788.75. 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 has a 50 day moving average of $712.30 and a 200 day moving average of $585.33.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The business had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the company earned $1.78 earnings per share. The company’s quarterly revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities research analysts forecast that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend 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 program on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.