Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Quanta Services, Inc. (NYSE:PWR – Free Report) by 3,657.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 221,485 shares of the construction company’s stock after buying an additional 215,591 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.15% of Quanta Services worth $121,600,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PWR. Brighton Jones LLC purchased a new stake in shares of Quanta Services in the 4th quarter worth $298,000. Woodline Partners LP grew its holdings in 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 purchasing an additional 3,606 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Quanta Services in the second quarter worth about $4,632,000. Marshall Wace LLP purchased a new stake in Quanta Services in the second quarter worth about $996,000. Finally, StoneX Group Inc. bought a new position in shares of Quanta Services in the second quarter worth about $204,000. 90.49% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on PWR shares. BMO Capital Markets boosted their price objective on Quanta Services from $650.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Zacks Research cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Citigroup lifted their price target on shares of Quanta Services from $640.00 to $733.00 and gave the company a “buy” rating in a report on Monday, April 27th. The Goldman Sachs Group upped their price target on shares of Quanta Services from $685.00 to $826.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research report on Saturday. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $745.55.
Insider Buying and Selling at Quanta Services
In other news, CAO Paul Nobel sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer owned 8,080 shares in the company, valued at $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total value of $100,184,500.00. Following the completion of the sale, the chief executive officer directly owned 556,911 shares in the company, valued at $429,183,462.15. This trade represents a 18.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 159,992 shares of company stock valued at $123,244,714 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.
Quanta Services Stock Down 4.2%
Shares of PWR opened at $626.03 on Friday. The business’s 50 day moving average is $689.96 and its 200 day moving average is $605.59. The company has a market capitalization of $93.94 billion, a PE ratio of 85.88, a price-to-earnings-growth ratio of 2.57 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. 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 (NYSE:PWR – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 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 company had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the firm earned $1.78 EPS. The firm’s 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. Research analysts expect that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.
Quanta Services Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Wednesday, July 1st were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio is currently 6.04%.
Quanta Services declared that its board has approved a share repurchase program on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to purchase 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 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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