BI Asset Management Fondsmaeglerselskab A S Reduces Holdings in Quanta Services, Inc. $PWR

Key Points

• BI Asset Management cut its Quanta Services stake by 64.5% in the fourth quarter, leaving it with 8,194 shares worth about $3.46 million.
• Quanta Services reported strong quarterly results, with EPS of $2.68 and revenue of $7.87 billion, both beating analyst estimates and up sharply year over year.
• The company’s board approved a $1 billion share buyback, while analysts remain broadly positive with a Moderate Buy consensus and an average target price of $733.87.

BI Asset Management Fondsmaeglerselskab A S trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 64.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,194 shares of the construction company's stock after selling 14,900 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Quanta Services were worth $3,458,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PWR. Norges Bank purchased a new stake in Quanta Services in the 4th quarter valued at $817,285,000. Bank of America Corp DE grew its holdings in shares of Quanta Services by 35.6% during the 3rd quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company's stock worth $1,208,672,000 after purchasing an additional 765,822 shares during the period. Select Equity Group L.P. grew its holdings in shares of Quanta Services by 69.3% during the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company's stock worth $384,554,000 after purchasing an additional 416,395 shares during the period. Vanguard Group Inc. grew its holdings in shares of Quanta Services by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company's stock worth $7,519,079,000 after purchasing an additional 386,937 shares during the period. Finally, ABN AMRO Bank N.V. grew its holdings in shares of Quanta Services by 376.5% during the 4th quarter. ABN AMRO Bank N.V. now owns 422,486 shares of the construction company's stock worth $178,264,000 after purchasing an additional 333,817 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Quanta Services 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 completion of the sale, the chief executive officer owned 16,508 shares of the company's stock, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. The transaction 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 the business'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 sale, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 159,992 shares of company stock valued at $123,244,714. Company insiders own 0.60% of the company's stock.

Quanta Services Stock Performance

Shares of PWR stock opened at $694.21 on Tuesday. The stock has a fifty day moving average price of $664.38 and a 200 day moving average price of $550.40. The stock has a market cap of $104.17 billion, a PE ratio of 95.23, a P/E/G ratio of 2.74 and a beta of 1.20. Quanta Services, Inc. has a 1 year low of $341.93 and a 1 year high of $788.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14.

Quanta Services (NYSE:PWR - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $7 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. Quanta Services'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. Sell-side analysts forecast that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services announced that its Board of Directors has authorized a stock 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 buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be given a $0.11 dividend. The ex-dividend date of this dividend 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 currently 6.04%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PWR. Roth Mkm increased their target price on Quanta Services from $600.00 to $650.00 and gave the stock a "buy" rating in a research note on Monday, April 6th. Sanford C. Bernstein increased their price target on Quanta Services from $538.00 to $725.00 and gave the company a "market perform" rating in a research report on Tuesday, May 5th. Truist Financial set a $851.00 target price on Quanta Services in a research report on Friday, May 1st. Stifel Nicolaus set a $784.00 target price on Quanta Services in a research report on Friday, May 1st. Finally, Wolfe Research raised their price target on Quanta Services from $477.00 to $576.00 and gave the stock an "outperform" rating in a research note on Friday, February 20th. One equities 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.com, the company has an average rating of "Moderate Buy" and an average target price of $733.87.

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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