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

Key Points

• ARS Investment Partners LLC increased its stake in Quanta Services by 21.9% in the first quarter, adding 12,506 shares to reach 69,596 shares valued at about $38.2 million.
• Quanta Services delivered stronger-than-expected quarterly results, reporting EPS of $2.68 versus the $2.04 consensus and revenue of $7.87 billion, up 26.3% year over year.
• The company announced a $1 billion share repurchase plan and a small quarterly dividend of $0.11 per share, while recent insider sales totaled more than $123 million over the last 90 days.

ARS Investment Partners LLC boosted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 21.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,596 shares of the construction company's stock after buying an additional 12,506 shares during the quarter. Quanta Services accounts for approximately 2.0% of ARS Investment Partners LLC's investment 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 have also recently made changes to their positions in PWR. Brighton Jones LLC purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $298,000. Woodline Partners LP raised its holdings in shares of Quanta Services by 40.7% in the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company's stock worth $3,170,000 after buying an additional 3,606 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Quanta Services during the 2nd quarter worth approximately $4,632,000. Marshall Wace LLP purchased a new position in Quanta Services during the 2nd quarter valued at $996,000. Finally, StoneX Group Inc. purchased a new position in Quanta Services during the 2nd quarter valued at $204,000. Institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research analyst reports. Mizuho upped their price target on shares of Quanta Services from $580.00 to $693.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. B. Riley Financial reiterated a "neutral" rating on shares of Quanta Services in a report on Friday, May 1st. Jefferies Financial Group boosted their price objective on shares of Quanta Services from $654.00 to $857.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Citigroup raised their target price on shares of Quanta Services from $640.00 to $733.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Finally, Sanford C. Bernstein lifted their price target on shares of Quanta Services from $538.00 to $725.00 and gave the company a "market perform" rating in a research note on Tuesday, May 5th. One investment 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. According to MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average target price of $733.87.

Insider Transactions at Quanta Services

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the company's 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 owned 8,080 shares in the company, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 16,508 shares in the company, valued at $12,722,880.68. This represents a 61.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,992 shares of company stock worth $123,244,714 in the last 90 days. Company insiders own 0.60% of the company's stock.

Quanta Services Stock Up 0.3%

Shares of Quanta Services stock opened at $704.35 on Friday. 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 company has a market cap of $105.70 billion, a P/E ratio of 96.62, a PEG ratio of 2.76 and a beta of 1.20. The firm's 50 day moving average price is $690.42 and its 200-day moving average price is $565.56. Quanta Services, Inc. has a 52-week low of $358.38 and a 52-week high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.64. The company had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm's revenue was up 26.3% compared to the same quarter last year. During the same period last year, the business posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Quanta Services's payout ratio is 6.04%.

Quanta Services declared that its Board of Directors 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 buy up to 0.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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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