Norris Perne & French LLP MI Sells 2,793 Shares of Quanta Services, Inc. $PWR

Norris Perne & French LLP MI trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 6.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 40,187 shares of the construction company’s stock after selling 2,793 shares during the quarter. Norris Perne & French LLP MI’s holdings in Quanta Services were worth $16,961,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Quanta Services by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company’s stock valued at $7,519,079,000 after buying an additional 386,937 shares in the last quarter. State Street Corp grew its holdings in shares of Quanta Services by 1.2% in the third quarter. State Street Corp now owns 6,080,747 shares of the construction company’s stock valued at $2,519,983,000 after acquiring an additional 73,460 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Quanta Services by 35.6% in the third quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock valued at $1,208,672,000 after acquiring an additional 765,822 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Quanta Services by 8.8% in the third quarter. Victory Capital Management Inc. now owns 2,156,578 shares of the construction company’s stock valued at $893,139,000 after acquiring an additional 174,083 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Quanta Services by 5.4% in the third quarter. Invesco Ltd. now owns 1,805,239 shares of the construction company’s stock valued at $748,127,000 after purchasing an additional 93,290 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PWR has been the topic of several research analyst reports. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $600.00 to $650.00 in a research note on Friday, March 27th. Robert W. Baird increased their target price on Quanta Services from $490.00 to $606.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Argus increased their target price on Quanta Services from $540.00 to $650.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Wolfe Research increased their target price on Quanta Services from $477.00 to $576.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Jefferies Financial Group increased their target price on Quanta Services from $634.00 to $654.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Eighteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $595.50.

Quanta Services Stock Up 1.9%

PWR opened at $596.25 on Tuesday. The stock has a market cap of $89.21 billion, a PE ratio of 87.68, a P/E/G ratio of 2.66 and a beta of 1.10. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52 week low of $251.04 and a 52 week high of $596.42. The business’s fifty day simple moving average is $550.23 and its 200 day simple moving average is $480.31.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 19th. The construction company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.14. The business had revenue of $7.84 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Quanta Services had a return on equity of 18.10% and a net margin of 3.61%.The firm’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.94 earnings per share. Quanta Services has set its FY 2026 guidance at 12.650-13.350 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Thursday, April 2nd were paid 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 was Thursday, April 2nd. Quanta Services’s dividend payout ratio is currently 6.47%.

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.