Quanta Services, Inc. $PWR Stake Reduced by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its holdings in Quanta Services, Inc. (NYSE:PWR) by 2.6% in the first quarter, Holdings Channel.com reports. The fund owned 38,000 shares of the construction company’s stock after selling 1,000 shares during the period. Quanta Services comprises 1.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 28th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Quanta Services were worth $20,863,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $817,285,000. 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. grew its position in 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 last quarter. Corient Private Wealth LLC increased its holdings 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 bought a new position in shares of Quanta Services in the fourth quarter valued at $243,485,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In related news, CAO Paul Nobel sold 4,000 shares of the business’s 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 transaction, the chief accounting officer directly owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 owned 556,911 shares in the company, valued at approximately $429,183,462.15. This represents a 18.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 159,992 shares of company stock worth $123,244,714 in the last quarter. 0.60% of the stock is owned by corporate insiders.

Quanta Services Price Performance

PWR opened at $667.73 on Monday. The firm has a market capitalization of $100.20 billion, a P/E ratio of 91.60, a PEG ratio of 2.63 and a beta of 1.21. The stock has a fifty day moving average of $711.52 and a 200-day moving average of $583.67. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75.

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

Quanta Services announced that its board has authorized a share buyback program on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be issued a $0.11 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio is currently 6.04%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Evercore raised 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. Mizuho boosted their target price on Quanta Services from $580.00 to $693.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Wall Street Zen raised Quanta Services from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. TD Cowen lifted their price target on Quanta Services from $570.00 to $775.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Roth Mkm boosted their price objective on Quanta Services from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $755.18.

Quanta Services Company 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.