Swiss National Bank lifted its stake in Quanta Services, Inc. (NYSE:PWR – Free Report) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 437,595 shares of the construction company’s stock after buying an additional 29,280 shares during the period. Swiss National Bank’s holdings in Quanta Services were worth $240,248,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC bought a new stake in Quanta Services in the fourth quarter valued at $298,000. Woodline Partners LP lifted its holdings in shares of Quanta Services by 40.7% during the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after acquiring an additional 3,606 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Quanta Services in the 2nd quarter valued at $4,632,000. Marshall Wace LLP bought a new stake in shares of Quanta Services in the 2nd quarter worth about $996,000. Finally, StoneX Group Inc. bought a new stake in shares of Quanta Services in the 2nd quarter worth about $204,000. Institutional investors own 90.49% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on PWR shares. Roth Capital lifted their price target on shares of Quanta Services from $600.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 6th. Stifel Nicolaus set a $784.00 price objective on shares of Quanta Services in a research note on Friday, May 1st. TD Cowen lifted their target price on shares of Quanta Services from $570.00 to $775.00 and gave the company a “buy” rating in a research note on Monday, May 4th. BNP Paribas Exane assumed coverage on Quanta Services in a report on Tuesday, April 14th. They issued a “neutral” rating on the stock. Finally, Citigroup increased their price target on Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $751.86.
Insider Activity at Quanta Services
In other Quanta Services 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 transaction, the chief accounting officer owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total value of $100,184,500.00. Following the completion of the transaction, the chief executive officer owned 556,911 shares in the company, valued at $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 159,992 shares of company stock valued at $123,244,714 in the last 90 days. 0.60% of the stock is currently owned by corporate insiders.
Quanta Services Stock Down 0.1%
Shares of NYSE PWR opened at $628.11 on Monday. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The firm’s 50-day simple moving average is $703.48 and its 200 day simple moving average is $599.42. 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 market cap of $94.25 billion, a price-to-earnings ratio of 86.16, a price-to-earnings-growth ratio of 2.47 and a beta of 1.21.
Quanta Services (NYSE:PWR – Get Free Report) last posted its quarterly earnings data 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. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The firm had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the company posted $1.78 EPS. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, research analysts expect that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.
Quanta Services Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Wednesday, July 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, July 1st. Quanta Services’s payout ratio is 6.04%.
Quanta Services announced that its Board of Directors has approved a share buyback program on Friday, May 22nd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership 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.
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