Castleark Management LLC Lowers Stake in Quanta Services, Inc. $PWR

Castleark Management LLC lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 79.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,380 shares of the construction company’s stock after selling 5,300 shares during the quarter. Castleark Management LLC’s holdings in Quanta Services were worth $758,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Cedar Mountain Advisors LLC raised its holdings in Quanta Services by 321.4% in the fourth quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock worth $25,000 after purchasing an additional 45 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Quanta Services in the 2nd quarter valued at about $26,000. Boreal Capital Management LLC purchased a new position in shares of Quanta Services in the 1st quarter worth approximately $27,000. Flagship Harbor Advisors LLC bought a new position in shares of Quanta Services during the 4th quarter worth approximately $28,000. Finally, MV Capital Management Inc. bought a new position in shares of Quanta Services during the 4th quarter worth approximately $30,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the topic of several analyst reports. TD Cowen lifted their price target on shares of Quanta Services from $570.00 to $775.00 and gave the stock a “buy” rating in a report on Monday, May 4th. B. Riley Financial reissued a “neutral” rating on shares of Quanta Services in a research report on Friday, May 1st. Mizuho set a $645.00 target price on Quanta Services in a research note on Monday, July 20th. Sanford C. Bernstein upped their target price on Quanta Services from $538.00 to $725.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. Finally, Robert W. Baird increased their price target on Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Seventeen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $745.55.

Quanta Services Trading Down 0.9%

NYSE PWR opened at $619.98 on Tuesday. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The company has a fifty day simple moving average of $687.90 and a two-hundred day simple moving average of $608.07. 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 $93.03 billion, a P/E ratio of 85.05, a P/E/G ratio of 2.46 and a beta of 1.21.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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. 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 analyst estimates of $7 billion. During the same period in the previous year, the company earned $1.78 earnings per share. The business’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. On average, analysts forecast that Quanta Services, Inc. will post 12.8 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, July 1st. Quanta Services’s payout ratio is presently 6.04%.

Quanta Services announced that its Board of Directors has approved a stock repurchase plan on Friday, May 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated 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 completion of the sale, the chief executive officer owned 556,911 shares of the company’s stock, valued at $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the company’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 value of $3,027,920.00. Following the completion of the sale, the chief accounting officer 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 sold 159,992 shares of company stock worth $123,244,714 over the last three months. Corporate insiders own 0.60% of the company’s stock.

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.