Arrowstreet Capital Limited Partnership Buys 57,671 Shares of Quanta Services, Inc. $PWR

Arrowstreet Capital Limited Partnership lifted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 3,225.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,459 shares of the construction company's stock after purchasing an additional 57,671 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Quanta Services were worth $32,644,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PWR. Cetera Investment Advisers boosted its position in Quanta Services by 5.8% during the 1st quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company's stock valued at $40,701,000 after acquiring an additional 4,087 shares in the last quarter. Evoke Wealth LLC bought a new position in shares of Quanta Services in the 4th quarter worth $368,000. Sequoia Financial Advisors LLC lifted its stake in shares of Quanta Services by 3.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company's stock worth $55,052,000 after purchasing an additional 3,966 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Quanta Services by 9.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,602 shares of the construction company's stock worth $21,357,000 after purchasing an additional 4,568 shares during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its position in Quanta Services by 9.8% during the fourth quarter. Lebenthal Global Advisors LLC now owns 9,277 shares of the construction company's stock valued at $3,915,000 after purchasing an additional 830 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on PWR. UBS Group boosted their target price on shares of Quanta Services from $646.00 to $900.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Stifel Nicolaus set a $784.00 price objective on shares of Quanta Services in a research report on Friday, May 1st. Wall Street Zen lowered shares of Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday. CICC Research initiated coverage on shares of Quanta Services in a research note on Thursday, May 21st. They issued an "outperform" rating and a $872.00 target price for the company. Finally, Zacks Research lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Seventeen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $745.55.

Quanta Services Stock Down 5.2%

PWR stock opened at $588.03 on Wednesday. The firm has a 50 day moving average of $685.36 and a 200 day moving average of $609.13. The stock has a market capitalization of $88.24 billion, a PE ratio of 80.66, a price-to-earnings-growth ratio of 2.44 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, Inc. has a 52 week low of $363.01 and a 52 week high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) 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 business had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the business posted $1.78 EPS. Quanta Services's revenue for the quarter 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. Sell-side 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 announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Wednesday, July 1st were paid a $0.11 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is 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 other news, CAO Paul Nobel sold 4,000 shares of the firm's 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 completion of the transaction, the chief accounting officer directly owned 8,080 shares in the company, valued at $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value of $20,032,294.32. Following the sale, the chief executive officer directly owned 16,508 shares of the company's stock, valued at $12,722,880.68. This trade represents a 61.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by insiders.

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.

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