Eventide Asset Management LLC Buys 19,602 Shares of Quanta Services, Inc. $PWR

Eventide Asset Management LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 28.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 88,932 shares of the construction company’s stock after acquiring an additional 19,602 shares during the quarter. Eventide Asset Management LLC’s holdings in Quanta Services were worth $37,570,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings 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 buying an additional 386,937 shares during the last quarter. State Street Corp raised its position in shares of Quanta Services by 2.1% during the fourth quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock worth $2,619,626,000 after purchasing an additional 126,014 shares during the period. Geode Capital Management LLC raised its position 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 worth $1,718,371,000 after purchasing an additional 110,360 shares during the period. Bank of America Corp DE raised its position 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 worth $1,208,672,000 after purchasing an additional 765,822 shares during the period. Finally, Victory Capital Management Inc. raised its position 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 purchasing an additional 758,862 shares during the period. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented 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 set a “neutral” rating on the stock. Zacks Research raised Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Cantor Fitzgerald raised their price target on Quanta Services from $630.00 to $901.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Citigroup raised their price target on Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $733.87.

Insider Buying and Selling

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction that occurred 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 sale, the chief executive officer owned 16,508 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $3,027,920.00. Following the transaction, the chief accounting officer directly owned 8,080 shares in the company, valued at $6,116,398.40. This trade represents a 33.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is owned by insiders.

Quanta Services Stock Up 3.7%

Shares of Quanta Services stock opened at $708.86 on Friday. The business’s 50 day simple moving average is $675.23 and its 200 day simple moving average is $556.55. Quanta Services, Inc. has a 52-week low of $349.06 and a 52-week high of $788.75. The firm has a market cap of $106.37 billion, a PE ratio of 97.24, a P/E/G ratio of 2.78 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.

Quanta Services (NYSE:PWR) last announced 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 return on equity of 18.64% and a net margin of 3.67%.The business had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the firm earned $1.78 EPS. Quanta Services’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, analysts predict that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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 given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.04%.

Quanta Services declared that its board has authorized a stock buyback program on Friday, May 22nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are 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.