Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 351,618 shares of the construction company’s stock after selling 15,244 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Quanta Services were worth $193,045,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of PWR. Norges Bank bought a new stake in shares of Quanta Services during the 4th quarter worth $817,285,000. Bank of America Corp DE raised its holdings in Quanta Services by 35.6% in the 3rd quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock worth $1,208,672,000 after acquiring an additional 765,822 shares during the period. Victory Capital Management Inc. lifted its position in Quanta Services by 35.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock worth $1,230,493,000 after acquiring an additional 758,862 shares during the last quarter. Corient Private Wealth LLC lifted its position in Quanta Services by 137.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company’s stock worth $486,065,000 after acquiring an additional 667,050 shares during the last quarter. Finally, Sands Capital Management LLC bought a new stake in Quanta Services during the fourth quarter valued at about $243,485,000. Institutional investors own 90.49% of the company’s stock.
Insider Buying and Selling at Quanta Services
In other news, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the sale, the chief executive officer directly owned 16,508 shares in the company, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the sale, the chief accounting officer directly owned 8,080 shares in the company, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 159,992 shares of company stock worth $123,244,714 in the last three months. Insiders own 0.60% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Report on Quanta Services
Quanta Services Trading Up 0.2%
Shares of PWR opened at $667.36 on Friday. The stock’s 50-day moving average price is $714.19 and its 200 day moving average price is $590.45. 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 firm has a market capitalization of $100.14 billion, a price-to-earnings ratio of 91.54, a P/E/G ratio of 2.63 and a beta of 1.21. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month 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, topping analysts’ consensus estimates of $2.04 by $0.64. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The company’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the company earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 12.78 earnings per share for the current year.
Quanta Services announced that its board has authorized a stock repurchase plan on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Quanta Services Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s payout ratio is currently 6.04%.
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.
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