Boothbay Fund Management LLC Lowers Stock Position in Quanta Services, Inc. $PWR

Boothbay Fund Management LLC cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 19.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,822 shares of the construction company’s stock after selling 6,630 shares during the period. Boothbay Fund Management LLC’s holdings in Quanta Services were worth $11,743,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Quanta Services by 2.1% during the fourth quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock worth $2,619,626,000 after buying an additional 126,014 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Quanta Services by 2.8% during the fourth 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 in the last quarter. Bank of America Corp DE boosted its holdings in Quanta Services by 35.6% during the third 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 in the last quarter. Victory Capital Management Inc. boosted its holdings in Quanta Services by 35.2% during the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock worth $1,230,493,000 after buying an additional 758,862 shares in the last quarter. Finally, Norges Bank purchased a new stake in Quanta Services during the fourth quarter worth $817,285,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Paul Nobel sold 4,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the transaction, the chief accounting officer directly owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the transaction, the chief executive officer directly owned 556,911 shares in the company, valued at approximately $429,183,462.15. This represents a 18.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 159,992 shares of company stock worth $123,244,714. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. UBS Group increased their price target on shares of Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, May 4th. B. Riley Financial reaffirmed a “neutral” rating on shares of Quanta Services in a report on Friday, May 1st. Sanford C. Bernstein increased their price objective on shares of Quanta Services from $538.00 to $725.00 and gave the company a “market perform” rating in a report on Tuesday, May 5th. Finally, Robert W. Baird increased their price objective on shares of Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $733.87.

Quanta Services Stock Performance

PWR opened at $714.41 on Thursday. The firm’s fifty day simple moving average is $684.87 and its two-hundred day simple moving average is $562.90. 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 $107.20 billion, a price-to-earnings ratio of 98.00, a PEG ratio of 2.83 and a beta of 1.20. Quanta Services, Inc. has a 52-week low of $358.27 and a 52-week high of $788.75.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.64. The firm had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services declared that its board has authorized a stock buyback program on Friday, May 22nd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Quanta Services Dividend Announcement

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