Quanta Services, Inc. $PWR Shares Sold by Brookstone Capital Management

Brookstone Capital Management lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 17.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,694 shares of the construction company’s stock after selling 6,092 shares during the period. Brookstone Capital Management’s holdings in Quanta Services were worth $16,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PWR. Norges Bank acquired a new stake in Quanta Services in the 4th quarter valued at $817,285,000. Bank of America Corp DE boosted its position in shares of Quanta Services by 35.6% in 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 during the period. Victory Capital Management Inc. boosted its position in shares of Quanta Services by 35.2% in 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 during the period. Corient Private Wealth LLC grew its stake in shares of Quanta Services by 137.6% in the fourth quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company’s stock valued at $486,065,000 after buying an additional 667,050 shares in the last quarter. Finally, Sands Capital Management LLC purchased a new stake in shares of Quanta Services during the 4th quarter valued at about $243,485,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Activity

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 556,911 shares in the company, valued at $429,183,462.15. This represents a 18.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Paul Nobel sold 4,000 shares of the stock in a transaction that occurred 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 directly owned 8,080 shares in the company, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,992 shares of company stock worth $123,244,714 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. B. Riley Financial restated a “neutral” rating on shares of Quanta Services in a report on Friday, May 1st. BMO Capital Markets lifted their price objective on shares of Quanta Services from $650.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. CICC Research started coverage on shares of Quanta Services in a research report on Thursday, May 21st. They set an “outperform” rating and a $872.00 target price on the stock. Roth Mkm upped their target price on shares of Quanta Services from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Finally, Citigroup raised 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. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $733.87.

Quanta Services Stock Performance

Quanta Services stock opened at $704.35 on Monday. Quanta Services, Inc. has a 52 week low of $358.38 and a 52 week 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. The stock has a market cap of $105.70 billion, a P/E ratio of 96.62, a price-to-earnings-growth ratio of 2.76 and a beta of 1.20. The stock has a 50 day moving average of $690.42 and a 200-day moving average of $566.36.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The firm had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the company posted $1.78 earnings per share. The firm’s quarterly revenue 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, analysts expect that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services declared that its Board of Directors has initiated a stock buyback program on Friday, May 22nd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Quanta Services Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, July 1st. Quanta Services’s dividend payout ratio is 6.04%.

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.