Bank of New York Mellon Corp Has $387.73 Million Holdings in Quanta Services, Inc. $PWR

Bank of New York Mellon Corp increased its stake in Quanta Services, Inc. (NYSE:PWR) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 918,661 shares of the construction company’s stock after purchasing an additional 8,156 shares during the period. Bank of New York Mellon Corp’s holdings in Quanta Services were worth $387,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Quanta Services by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company’s stock worth $7,519,079,000 after buying an additional 386,937 shares during the last quarter. State Street Corp boosted its stake in shares of Quanta Services by 1.2% during the 3rd quarter. State Street Corp now owns 6,080,747 shares of the construction company’s stock worth $2,519,983,000 after buying an additional 73,460 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Quanta Services by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock worth $1,718,371,000 after buying an additional 110,360 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Quanta Services by 35.6% during 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 buying an additional 765,822 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Quanta Services by 8.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,156,578 shares of the construction company’s stock valued at $893,139,000 after purchasing an additional 174,083 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Quanta Services

In related news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer owned 8,080 shares in the company, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the sale, the chief executive officer owned 16,508 shares in the company, valued at $12,722,880.68. This represents a 61.16% decrease in their position. 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 in the last quarter. 0.60% of the stock is currently owned by company insiders.

Quanta Services Stock Up 0.4%

Shares of PWR opened at $718.32 on Friday. Quanta Services, Inc. has a 12 month low of $341.93 and a 12 month high of $788.75. The firm’s 50 day moving average is $658.94 and its 200-day moving average is $546.71. The stock has a market capitalization of $107.79 billion, a PE ratio of 98.53, a P/E/G ratio of 2.82 and a beta of 1.20. 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) last announced its earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.04 by $0.64. The company had revenue of $7.87 billion for 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%. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services announced that its Board of Directors has authorized a share 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 buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is currently 6.04%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PWR. The Goldman Sachs Group upped their target price on shares of Quanta Services from $685.00 to $826.00 and gave the company a “buy” rating in a report on Monday, May 4th. TD Cowen upped their target price on shares of Quanta Services from $570.00 to $775.00 and gave the company a “buy” rating in a report on Monday, May 4th. CICC Research began coverage on shares of Quanta Services in a report on Thursday, May 21st. They issued an “outperform” rating and a $872.00 target price on the stock. Citigroup increased 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. Finally, Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $733.87.

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.