Clough Capital Partners L P Acquires 1,699 Shares of Quanta Services, Inc. $PWR

Clough Capital Partners L P increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 60.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,509 shares of the construction company’s stock after purchasing an additional 1,699 shares during the quarter. Clough Capital Partners L P’s holdings in Quanta Services were worth $1,903,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Lansforsakringar Fondforvaltning AB publ raised its stake in shares of Quanta Services by 5.4% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 46,609 shares of the construction company’s stock worth $19,316,000 after buying an additional 2,375 shares during the last quarter. Evoke Wealth LLC bought a new stake in Quanta Services in the fourth quarter valued at approximately $368,000. Sequoia Financial Advisors LLC increased its stake in Quanta Services by 3.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company’s stock valued at $55,052,000 after purchasing an additional 3,966 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in Quanta Services by 44.4% in the third quarter. Westfield Capital Management Co. LP now owns 245,506 shares of the construction company’s stock valued at $101,743,000 after purchasing an additional 75,449 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Quanta Services by 9.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,602 shares of the construction company’s stock valued at $21,357,000 after purchasing an additional 4,568 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. DA Davidson upped their target price on shares of Quanta Services from $450.00 to $575.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. CICC Research assumed coverage on shares of Quanta Services in a research note on Thursday, May 21st. They issued an “outperform” rating and a $872.00 target price for the company. Wolfe Research upped their target price on shares of Quanta Services from $477.00 to $576.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Citigroup upped their target price on shares of Quanta Services from $640.00 to $733.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. One research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $733.87.

Insider Activity at Quanta Services

In related news, CAO Paul Nobel sold 4,000 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were 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 approximately $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the transaction, the chief executive officer directly owned 556,911 shares of the company’s stock, valued at approximately $429,183,462.15. This trade represents a 18.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,992 shares of company stock valued at $123,244,714 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Quanta Services Stock Down 0.7%

Quanta Services stock opened at $714.41 on Thursday. The stock has a market capitalization of $107.20 billion, a PE ratio of 98.00, a price-to-earnings-growth ratio of 2.83 and a beta of 1.20. Quanta Services, Inc. has a twelve month low of $358.27 and a twelve month high of $788.75. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $684.87 and a 200-day moving average of $562.90.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.64. The company 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 business’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities research analysts anticipate that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Quanta Services declared that its board has authorized a share repurchase plan on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.