Candriam S.C.A. Cuts Stock Position in Quanta Services, Inc. $PWR

Key Points

• Candriam S.C.A. reduced its Quanta Services stake by 8.1% in the first quarter, selling 5,184 shares and leaving it with 59,037 shares valued at about $32.4 million.
• Analyst sentiment remains positive, with 19 Buy ratings and 7 Hold ratings; the consensus rating is “Moderate Buy” and the average price target is $751.86.
• Quanta Services reported better-than-expected quarterly results, posting EPS of $2.68 on revenue of $7.87 billion, and it also announced a $1 billion share repurchase program plus a quarterly dividend of $0.11 per share.

Candriam S.C.A. trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,037 shares of the construction company's stock after selling 5,184 shares during the period. Candriam S.C.A.'s holdings in Quanta Services were worth $32,412,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lewis Asset Management LLC raised its stake in shares of Quanta Services by 2.5% during the first quarter. Lewis Asset Management LLC now owns 692 shares of the construction company's stock worth $380,000 after acquiring an additional 17 shares in the last quarter. Stiles Financial Services Inc lifted its stake in Quanta Services by 1.8% in the first quarter. Stiles Financial Services Inc now owns 987 shares of the construction company's stock worth $542,000 after purchasing an additional 17 shares during the last quarter. Arete Wealth Advisors LLC boosted its position in Quanta Services by 2.2% during the fourth quarter. Arete Wealth Advisors LLC now owns 917 shares of the construction company's stock valued at $387,000 after buying an additional 20 shares during the period. Quantum Portfolio Management LLC grew its stake in shares of Quanta Services by 2.2% during the fourth quarter. Quantum Portfolio Management LLC now owns 946 shares of the construction company's stock valued at $399,000 after buying an additional 20 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in shares of Quanta Services by 1.2% in the fourth quarter. Icon Wealth Advisors LLC now owns 1,733 shares of the construction company's stock worth $731,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PWR shares. Sanford C. Bernstein raised their price target on Quanta Services from $538.00 to $725.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 5th. Weiss Ratings raised shares of Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 20th. Cantor Fitzgerald boosted their price objective on shares of Quanta Services from $630.00 to $901.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. Citigroup increased their target price on shares of Quanta Services from $640.00 to $733.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Finally, Jefferies Financial Group lowered their price target on Quanta Services from $857.00 to $784.00 and set a "buy" rating for the company in a research report on Friday. Nineteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and an average price target of $751.86.

Insider Transactions at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the sale, the chief executive officer owned 556,911 shares of the company's stock, valued at $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Paul Nobel sold 4,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at $6,116,398.40. This represents a 33.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by corporate insiders.

Quanta Services Stock Down 1.5%

Quanta Services stock traded down $10.20 during trading hours on Friday, hitting $657.97. 847,048 shares of the stock traded hands, compared to its average volume of 1,380,968. Quanta Services, Inc. has a one year low of $363.01 and a one year high of $788.75. The firm's 50-day moving average price is $714.79 and its two-hundred day moving average price is $590.92. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. The company has a market cap of $98.73 billion, a PE ratio of 90.26, a PEG ratio of 2.59 and a beta of 1.21.

Quanta Services (NYSE:PWR - Get Free Report) last released its 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 for the quarter was up 26.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, research analysts forecast that Quanta Services, Inc. will post 12.8 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced 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 dividend payout ratio is currently 6.04%.

Quanta Services declared that its board has initiated a stock repurchase 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 generally an indication that the company's board of directors believes its shares are undervalued.

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.

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