ABN AMRO Bank N.V. Lowers Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• ABN AMRO Bank N.V. reduced its stake in Quanta Services by 20.2% in Q1, selling 85,427 shares and ending with 337,059 shares valued at about $186.7 million.
• Quanta Services reported strong quarterly results, posting EPS of $2.68 versus estimates of $2.04 and revenue of $7.87 billion versus $7 billion expected, with revenue up 26.3% year over year.
• The company also announced a $1 billion share buyback and a small quarterly dividend of $0.11 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $733.87.

ABN AMRO Bank N.V. lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 20.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 337,059 shares of the construction company's stock after selling 85,427 shares during the period. Quanta Services comprises approximately 2.0% of ABN AMRO Bank N.V.'s holdings, making the stock its 18th largest position. ABN AMRO Bank N.V. owned 0.22% of Quanta Services worth $186,709,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC grew its position in shares of Quanta Services by 321.4% during 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 during the second quarter valued at approximately $26,000. Flagship Harbor Advisors LLC purchased a new position in shares of Quanta Services in the fourth quarter worth $28,000. MV Capital Management Inc. purchased a new position in shares of Quanta Services in the fourth quarter worth $30,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Quanta Services by 221.7% during the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company's stock worth $31,000 after acquiring an additional 51 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

PWR stock opened at $686.73 on Friday. The firm has a market cap of $103.05 billion, a price-to-earnings ratio of 94.20, a PEG ratio of 2.71 and a beta of 1.20. Quanta Services, Inc. has a twelve month low of $363.01 and a twelve month high of $788.75. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The business's fifty day simple moving average is $702.52 and its two-hundred day simple moving average is $574.40.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.04 by $0.64. The company 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 quarterly revenue was up 26.3% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Analysts predict that Quanta Services, Inc. will post 12.81 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 6.04%.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PWR. Weiss Ratings upgraded Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 20th. Stifel Nicolaus set a $784.00 price target on Quanta Services in a research note on Friday, May 1st. Robert W. Baird raised their price target on Quanta Services from $606.00 to $777.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Cantor Fitzgerald lifted their price objective on Quanta Services from $630.00 to $901.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Finally, Oppenheimer raised Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price objective on the stock in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $733.87.

Insider Buying and Selling at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction 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 sale, the chief executive officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $3,027,920.00. Following the completion of the transaction, the chief accounting officer directly 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 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 ninety days. Corporate insiders own 0.60% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.