Alpine Global Management LLC Buys New Shares in Quanta Services, Inc. $PWR

Alpine Global Management LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, Holdings Channel.com reports. The firm bought 2,193 shares of the construction company’s stock, valued at approximately $926,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC purchased a new position in shares of Quanta Services in the 4th quarter worth about $298,000. Woodline Partners LP raised its stake in shares of Quanta Services by 40.7% in the 1st 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 position in shares of Quanta Services during the 2nd quarter valued at $4,632,000. Marshall Wace LLP purchased a new position in Quanta Services in the second quarter valued at about $996,000. Finally, StoneX Group Inc. acquired a new position in shares of Quanta Services during the second quarter worth about $204,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $704.35 on Friday. Quanta Services, Inc. has a 52-week low of $358.38 and a 52-week high of $788.75. 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 firm has a market capitalization of $105.70 billion, a PE ratio of 96.62, a P/E/G ratio of 2.81 and a beta of 1.20. The firm has a 50-day moving average price of $687.86 and a 200 day moving average price of $564.58.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share 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 firm had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter 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, sell-side analysts anticipate that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be issued 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 of this dividend is Wednesday, July 1st. Quanta Services’s payout ratio is presently 6.04%.

Quanta Services declared that its Board of Directors has authorized a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PWR. Robert W. Baird raised their price target on shares of Quanta Services from $606.00 to $777.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $627.00 to $805.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings raised shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. Truist Financial set a $851.00 price target on Quanta Services in a report on Friday, May 1st. Finally, Evercore upped their price objective on Quanta Services from $635.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $733.87.

Insider Transactions 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 value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value of $20,032,294.32. Following the sale, the chief executive officer directly owned 16,508 shares of the company’s stock, valued at approximately $12,722,880.68. This represents a 61.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 159,992 shares of company stock valued at $123,244,714 over the last three months. 0.60% of the stock is owned by corporate insiders.

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.