BI Asset Management Fondsmaeglerselskab A S Sells 890 Shares of Quanta Services, Inc. $PWR

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 10.9% during the first quarter, HoldingsChannel reports. The firm owned 7,304 shares of the construction company’s stock after selling 890 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Quanta Services were worth $4,010,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Lansforsakringar Fondforvaltning AB publ lifted its position in Quanta Services by 5.4% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 46,609 shares of the construction company’s stock valued at $19,316,000 after acquiring an additional 2,375 shares in the last quarter. Evoke Wealth LLC bought a new position in Quanta Services during the 4th quarter worth about $368,000. Sequoia Financial Advisors LLC increased its holdings in Quanta Services by 3.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company’s stock worth $55,052,000 after purchasing an additional 3,966 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Quanta Services by 9.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,602 shares of the construction company’s stock valued at $21,357,000 after purchasing an additional 4,568 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Quanta Services by 44.4% in the third quarter. Westfield Capital Management Co. LP now owns 245,506 shares of the construction company’s stock valued at $101,743,000 after purchasing an additional 75,449 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the company’s 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 sale, the chief accounting officer owned 8,080 shares in the company, valued at $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 available at this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’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 sale, the chief executive officer directly owned 16,508 shares of the company’s stock, 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 sold 159,992 shares of company stock worth $123,244,714 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PWR shares. Robert W. Baird upped their price objective on 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. boosted their target price on Quanta Services from $627.00 to $805.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Wall Street Zen raised Quanta Services from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup raised their price target on shares of Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Cantor Fitzgerald lifted their price objective on shares of Quanta Services from $630.00 to $901.00 and gave the company an “overweight” rating in a report on Monday, May 11th. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $733.87.

Quanta Services Stock Performance

Shares of PWR opened at $742.13 on Tuesday. The company has a market cap of $111.36 billion, a PE ratio of 101.80, a price-to-earnings-growth ratio of 2.76 and a beta of 1.20. The firm has a 50-day moving average of $693.63 and a 200-day moving average of $568.38. Quanta Services, Inc. has a one year low of $358.38 and a one year 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.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company 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 firm earned $1.78 EPS. Quanta Services’s quarterly revenue 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. As a group, equities analysts forecast that Quanta Services, Inc. will post 12.81 earnings per share for the current year.

Quanta Services declared that its board has approved a stock buyback 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 purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be given 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 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.