Zweig DiMenna Associates LLC trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 84.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,550 shares of the construction company’s stock after selling 83,450 shares during the period. Zweig DiMenna Associates LLC’s holdings in Quanta Services were worth $8,537,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the company. Evoke Wealth LLC bought a new position in Quanta Services during the fourth quarter worth about $368,000. Sequoia Financial Advisors LLC raised 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 buying an additional 3,966 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 buying an additional 4,568 shares during the period. Lebenthal Global Advisors LLC lifted its position in shares of Quanta Services by 9.8% in the fourth quarter. Lebenthal Global Advisors LLC now owns 9,277 shares of the construction company’s stock valued at $3,915,000 after buying an additional 830 shares during the last quarter. Finally, North Dakota State Investment Board bought a new position in shares of Quanta Services during the 4th quarter worth approximately $2,131,000. Institutional investors and hedge funds own 90.49% of the company’s stock.
Wall Street Analysts Forecast Growth
PWR has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their target price on Quanta Services from $857.00 to $784.00 and set a “buy” rating on the stock in a report on Friday. Oppenheimer raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 price objective for the company in a research report on Thursday, May 28th. JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $627.00 to $805.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Roth Capital increased their price objective on shares of Quanta Services from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Finally, BNP Paribas Exane began coverage on shares of Quanta Services in a research note on Tuesday, April 14th. They set a “neutral” rating for the company. Nineteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $751.86.
Insider Buying and Selling at Quanta Services
In related 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total value of $20,032,294.32. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is owned by corporate insiders.
Quanta Services Stock Performance
NYSE PWR opened at $661.17 on Wednesday. The firm’s 50 day simple moving average is $710.96 and its 200 day simple moving average is $595.12. The firm has a market capitalization of $99.22 billion, a price-to-earnings ratio of 90.70, a P/E/G ratio of 2.55 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a 1 year low of $363.01 and a 1 year high of $788.75.
Quanta Services (NYSE:PWR – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The company’s 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, research analysts expect that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.
Quanta Services Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s payout ratio is 6.04%.
Quanta Services announced that its Board of Directors has initiated a stock repurchase plan on Friday, May 22nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is 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.
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