Park National Corp OH Grows Stake in Quanta Services, Inc. $PWR

Park National Corp OH raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,337 shares of the construction company’s stock after purchasing an additional 1,878 shares during the period. Park National Corp OH’s holdings in Quanta Services were worth $24,342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. Brighton Jones LLC purchased a new stake in Quanta Services in the fourth quarter worth about $298,000. Woodline Partners LP increased its position in Quanta Services by 40.7% during the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after purchasing an additional 3,606 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Quanta Services in the 2nd quarter valued at about $4,632,000. Marshall Wace LLP purchased a new stake in shares of Quanta Services in the 2nd quarter worth approximately $996,000. Finally, StoneX Group Inc. bought a new position in shares of Quanta Services during the second quarter valued at approximately $204,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of PWR opened at $704.35 on Friday. The company has a 50 day moving average of $690.42 and a two-hundred day moving average of $565.56. 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 twelve month low of $358.38 and a twelve month high of $788.75. The company has a market cap of $105.70 billion, a price-to-earnings ratio of 96.62, a price-to-earnings-growth ratio of 2.76 and a beta of 1.20.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $7 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The business’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. As a group, analysts predict that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services announced that its board has authorized a stock repurchase 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 buy up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Quanta Services Dividend Announcement

The firm 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 dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Quanta Services’s dividend payout ratio is currently 6.04%.

Insider Transactions at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 25,992 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the sale, the chief executive officer owned 16,508 shares in the company, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer owned 8,080 shares in the company, valued at approximately $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 quarter, insiders sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PWR has been the topic of several research reports. The Goldman Sachs Group lifted their price objective 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. BNP Paribas Exane initiated coverage on Quanta Services in a report on Tuesday, April 14th. They set a “neutral” rating for the company. Evercore increased their target price on Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. UBS Group lifted their price target on Quanta Services from $646.00 to $900.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, CICC Research started coverage on Quanta Services in a research note on Thursday, May 21st. They set an “outperform” rating and a $872.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $733.87.

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.