Dai ichi Life Insurance Company Ltd decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 26.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,788 shares of the construction company’s stock after selling 2,749 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Quanta Services were worth $4,276,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Evoke Wealth LLC acquired a new stake in Quanta Services during the 4th quarter worth approximately $368,000. Sequoia Financial Advisors LLC lifted its position in Quanta Services by 3.1% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Quanta Services by 9.9% during 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 in the last quarter. Lebenthal Global Advisors LLC grew its stake in Quanta Services by 9.8% during the fourth quarter. Lebenthal Global Advisors LLC now owns 9,277 shares of the construction company’s stock worth $3,915,000 after buying an additional 830 shares during the period. Finally, North Dakota State Investment Board acquired a new stake in shares of Quanta Services in the fourth quarter worth $2,131,000. Institutional investors and hedge funds own 90.49% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on PWR. BMO Capital Markets lifted their target price on shares of Quanta Services from $650.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $714.00 price target on shares of Quanta Services in a report on Tuesday, July 21st. B. Riley Financial restated a “neutral” rating on shares of Quanta Services in a research note on Friday, May 1st. Oppenheimer raised Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 target price for the company in a research report on Thursday, May 28th. Finally, Sanford C. Bernstein raised their target price on Quanta Services from $538.00 to $725.00 and gave the company a “market perform” rating in a report on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $745.55.
Insider Activity at Quanta Services
In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 8,080 shares in the company, valued at $6,116,398.40. The trade was a 33.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 159,992 shares of company stock worth $123,244,714 over the last 90 days. 0.60% of the stock is owned by company insiders.
Quanta Services Stock Performance
Quanta Services stock opened at $626.03 on Friday. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. The company has a market capitalization of $93.94 billion, a price-to-earnings ratio of 85.88, a price-to-earnings-growth ratio of 2.46 and a beta of 1.21. The firm’s fifty day moving average price is $689.96 and its 200 day moving average price is $605.59.
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 analysts’ consensus estimates of $2.04 by $0.64. The company had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. During the same period in the prior year, the company posted $1.78 EPS. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, research analysts forecast that Quanta Services, Inc. will post 12.8 EPS for the current fiscal year.
Quanta Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is 6.04%.
Quanta Services announced that its board has authorized a stock buyback program on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board 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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