Candriam S.C.A. Sells 5,184 Shares of Quanta Services, Inc. $PWR

Candriam S.C.A. lessened its position in Quanta Services, Inc. (NYSE:PWR) by 8.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 59,037 shares of the construction company’s stock after selling 5,184 shares during the period. Candriam S.C.A.’s holdings in Quanta Services were worth $32,412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in Quanta Services by 2.1% in the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock valued at $2,619,626,000 after acquiring an additional 126,014 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Quanta Services by 2.8% in 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 purchasing an additional 110,360 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 valued at $1,208,672,000 after purchasing an additional 765,822 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of 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 valued at $1,230,493,000 after buying an additional 758,862 shares during the last quarter. Finally, Norges Bank bought a new stake in Quanta Services in the 4th quarter worth about $817,285,000. Institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total value of $100,184,500.00. Following the sale, the chief executive officer directly owned 556,911 shares in the company, valued at approximately $429,183,462.15. The trade was a 18.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Paul Nobel sold 4,000 shares of the stock in a transaction dated 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 $6,116,398.40. This trade represents a 33.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,992 shares of company stock valued at $123,244,714 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Quanta Services Price Performance

NYSE:PWR traded down $10.20 on Friday, reaching $657.97. 847,048 shares of the company’s stock traded hands, compared to its average volume of 1,380,968. The stock has a 50-day simple moving average of $714.79 and a 200-day simple moving average of $590.92. Quanta Services, Inc. has a 12 month low of $363.01 and a 12 month high of $788.75. The firm has a market cap of $98.73 billion, a PE ratio of 90.26, a P/E/G ratio of 2.59 and a beta of 1.21. 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 (NYSE:PWR) last released its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $7 billion. During the same quarter last year, the business posted $1.78 earnings per share. The firm’s 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. Equities research analysts forecast that Quanta Services, Inc. will post 12.8 earnings per share for the current year.

Quanta Services declared that its board has approved a share repurchase plan on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be given a dividend of $0.11 per share. 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

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein raised their price target 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. Mizuho increased their price objective on shares of Quanta Services from $580.00 to $693.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Jefferies Financial Group cut their target price on shares of Quanta Services from $857.00 to $784.00 and set a “buy” rating for the company in a research report on Friday. Citigroup raised their price target on Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Truist Financial upped their price objective on Quanta Services from $851.00 to $940.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $751.86.

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.