ARS Investment Partners LLC Raises Holdings in Quanta Services, Inc. $PWR

ARS Investment Partners LLC boosted its position in Quanta Services, Inc. (NYSE:PWR) by 21.9% in the 1st quarter, Holdings Channel reports. The firm owned 69,596 shares of the construction company’s stock after acquiring an additional 12,506 shares during the quarter. Quanta Services accounts for about 2.0% of ARS Investment Partners LLC’s portfolio, making the stock its 20th largest position. ARS Investment Partners LLC’s holdings in Quanta Services were worth $38,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Quanta Services during the fourth quarter worth $817,285,000. Bank of America Corp DE raised its holdings in shares of Quanta Services by 35.6% during the 3rd quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock worth $1,208,672,000 after acquiring an additional 765,822 shares during the period. Victory Capital Management Inc. boosted its position in shares of Quanta Services by 35.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock valued at $1,230,493,000 after acquiring an additional 758,862 shares during the last quarter. Corient Private Wealth LLC grew 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 purchasing an additional 667,050 shares during the period. Finally, Sands Capital Management LLC purchased a new position in Quanta Services during the fourth quarter worth about $243,485,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $6,116,398.40. This trade represents a 33.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction dated 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 transaction, the chief executive officer owned 16,508 shares of the company’s stock, valued at $12,722,880.68. The trade was a 61.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 159,992 shares of company stock worth $123,244,714 in the last ninety days. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PWR. CICC Research initiated coverage on shares of Quanta Services in a report on Thursday, May 21st. They set an “outperform” rating and a $872.00 price target for the company. Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. BNP Paribas Exane began coverage on Quanta Services in a research report on Tuesday, April 14th. They issued a “neutral” rating on the stock. Citigroup upped their price target on Quanta Services from $640.00 to $733.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Argus raised their price objective on Quanta Services from $540.00 to $650.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. One research 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 company’s stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $733.87.

Quanta Services Stock Performance

Shares of PWR stock opened at $704.35 on Friday. The firm has a 50 day moving average of $690.42 and a two-hundred day moving average of $565.56. The stock has a market capitalization of $105.70 billion, a PE ratio of 96.62, a P/E/G ratio of 2.76 and a beta of 1.20. 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 52 week low of $358.38 and a 52 week high of $788.75.

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

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

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.44 annualized dividend and a yield of 0.1%. 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.