Aventail Capital Group LP Cuts Stake in Quanta Services, Inc. $PWR

Key Points

• Aventail Capital Group LP cut its Quanta Services stake by 61.4% in the fourth quarter, selling 45,975 shares and leaving it with 28,924 shares worth about $12.2 million.
• Quanta Services reported strong quarterly results, with EPS of $2.68 beating estimates and revenue rising 26.3% year over year to $7.87 billion, while management also set FY 2026 EPS guidance of 13.55 to 14.25.
• The company approved a $1 billion share buyback and declared a quarterly dividend of $0.11 per share, while analysts remain broadly positive with a consensus Moderate Buy rating and target price of $733.87.

Aventail Capital Group LP lowered its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 61.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,924 shares of the construction company's stock after selling 45,975 shares during the period. Aventail Capital Group LP's holdings in Quanta Services were worth $12,208,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Quanta Services in the fourth quarter valued at about $817,285,000. Bank of America Corp DE grew its stake in Quanta Services by 35.6% in the third quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company's stock valued at $1,208,672,000 after purchasing an additional 765,822 shares during the last quarter. Victory Capital Management Inc. grew its stake in Quanta Services by 35.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company's stock valued at $1,230,493,000 after purchasing an additional 758,862 shares during the last quarter. Sands Capital Management LLC purchased a new position in Quanta Services in the fourth quarter valued at about $243,485,000. Finally, Select Equity Group L.P. grew its stake in Quanta Services by 69.3% in the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company's stock valued at $384,554,000 after purchasing an additional 416,395 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of PWR stock opened at $714.41 on Thursday. Quanta Services, Inc. has a fifty-two week low of $358.27 and a fifty-two week high of $788.75. The firm has a market capitalization of $107.20 billion, a price-to-earnings ratio of 98.00, a PEG ratio of 2.83 and a beta of 1.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. The stock's 50-day simple moving average is $684.87 and its 200-day simple moving average is $562.90.

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 for the quarter, topping analysts' consensus estimates of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The business had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The company's revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, equities analysts forecast that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services announced that its board has approved a share buyback program 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 programs are usually a sign that the company's leadership believes its stock is undervalued.

Quanta Services Dividend Announcement

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

Insider Transactions at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 25,992 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the sale, the chief executive officer owned 16,508 shares in the company, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,992 shares of company stock worth $123,244,714 in the last 90 days. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PWR shares. Weiss Ratings upgraded Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. lifted their target price on Quanta Services from $627.00 to $805.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Sanford C. Bernstein lifted their target price on Quanta Services from $538.00 to $725.00 and gave the company a "market perform" rating in a research note on Tuesday, May 5th. Bank of America lifted their target price on Quanta Services from $500.00 to $610.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Finally, Argus lifted their target price on Quanta Services from $540.00 to $650.00 and gave the company a "buy" rating in a research note 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 assigned a Hold rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and a consensus target price of $733.87.

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.