Bank of New York Mellon Corp Acquires 8,156 Shares of Quanta Services, Inc. $PWR

Key Points

• Bank of New York Mellon increased its stake in Quanta Services by 0.9% in the fourth quarter, buying 8,156 additional shares and bringing its total holdings to 918,661 shares valued at about $387.7 million.
• Several analysts turned more bullish on PWR, with firms including JPMorgan, BMO Capital Markets, Stifel, Robert W. Baird, and Cantor Fitzgerald raising price targets; the stock now has a consensus rating of Moderate Buy with an average target price of $733.87.
• Quanta Services reported strong quarterly results, beating EPS and revenue estimates, and also announced a $1 billion share buyback plus a small quarterly dividend of $0.11 per share.

Bank of New York Mellon Corp increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 918,661 shares of the construction company's stock after purchasing an additional 8,156 shares during the period. Bank of New York Mellon Corp owned approximately 0.62% of Quanta Services worth $387,730,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Bridges Investment Management Inc. boosted its holdings in Quanta Services by 14.2% during the fourth quarter. Bridges Investment Management Inc. now owns 2,127 shares of the construction company's stock valued at $898,000 after acquiring an additional 265 shares during the period. Greenwich Wealth Management LLC bought a new stake in shares of Quanta Services in the fourth quarter valued at about $232,000. Pincus Capital Management LP bought a new stake in shares of Quanta Services in the fourth quarter valued at about $1,551,000. BNP Paribas lifted its stake in shares of Quanta Services by 47.4% in the fourth quarter. BNP Paribas now owns 35,003 shares of the construction company's stock valued at $14,939,000 after buying an additional 11,253 shares during the period. Finally, a16z Perennial Management L.P. lifted its stake in shares of Quanta Services by 10.6% in the fourth quarter. a16z Perennial Management L.P. now owns 637 shares of the construction company's stock valued at $269,000 after buying an additional 61 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PWR. JPMorgan Chase & Co. increased their target price on shares of Quanta Services from $627.00 to $805.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. BMO Capital Markets increased their price target on shares of Quanta Services from $650.00 to $800.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Stifel Nicolaus set a $784.00 price target on shares of Quanta Services in a research report on Friday, May 1st. Robert W. Baird increased their price target on shares of Quanta Services from $606.00 to $777.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Finally, Cantor Fitzgerald increased their price target on shares of Quanta Services from $630.00 to $901.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $733.87.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $718.32 on Friday. The firm has a 50 day simple moving average of $658.94 and a 200 day simple moving average of $546.71. Quanta Services, Inc. has a fifty-two week low of $341.93 and a fifty-two week high of $788.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. The firm has a market cap of $107.79 billion, a P/E ratio of 98.53, a P/E/G ratio of 2.82 and a beta of 1.20.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the business earned $1.78 EPS. The business'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 predict that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced 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. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Quanta Services's payout ratio is currently 6.04%.

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

Insiders Place Their Bets

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction on Monday, May 4th. The shares were sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the completion of the sale, the chief accounting officer owned 8,080 shares of the company's stock, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly owned 16,508 shares in the company, 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 have sold a total of 159,992 shares of company stock valued at $123,244,714 in the last ninety days. Company insiders own 0.60% of the company's stock.

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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