Choate Investment Advisors Purchases 3,064 Shares of Quanta Services, Inc. $PWR

Key Points

• Choate Investment Advisors increased its Quanta Services stake by 11.8% in the fourth quarter, buying 3,064 additional shares and bringing its total position to 28,962 shares worth about $12.2 million.
• Quanta Services has seen broad institutional interest, with several major funds boosting holdings, and 90.49% of the stock is owned by hedge funds and other institutional investors.
• The company reported strong quarterly results, beating estimates with $2.68 EPS on $7.87 billion in revenue, while also announcing a $1 billion share repurchase program and a $0.11 quarterly dividend.

Choate Investment Advisors lifted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,962 shares of the construction company's stock after buying an additional 3,064 shares during the period. Choate Investment Advisors' holdings in Quanta Services were worth $12,224,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PWR. Bank of America Corp DE raised its holdings in shares of Quanta Services by 35.6% during 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. Select Equity Group L.P. raised its holdings in shares of Quanta Services by 69.3% during 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. Vanguard Group Inc. raised its holdings in shares of Quanta Services by 2.2% during the third quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company's stock valued at $7,519,079,000 after purchasing an additional 386,937 shares during the last quarter. ABN AMRO Bank N.V. raised its holdings in shares of Quanta Services by 376.5% during the fourth quarter. ABN AMRO Bank N.V. now owns 422,486 shares of the construction company's stock valued at $178,264,000 after purchasing an additional 333,817 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Quanta Services by 29.9% during the third quarter. First Trust Advisors LP now owns 812,748 shares of the construction company's stock valued at $336,819,000 after purchasing an additional 186,857 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Cowen boosted their price objective on shares of Quanta Services from $570.00 to $775.00 and gave the company a "buy" rating in a report on Monday, May 4th. BMO Capital Markets boosted their price objective on shares of Quanta Services from $650.00 to $800.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Zacks Research raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, May 8th. Robert W. Baird upped their target price on shares of Quanta Services from $606.00 to $777.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Finally, Stifel Nicolaus set a $784.00 target price on shares of Quanta Services in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $715.17.

Insider Buying and Selling

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the company'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 value of $3,027,920.00. Following the completion of the transaction, the chief accounting officer directly owned 8,080 shares in the company, valued at $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the transaction, the chief executive officer owned 556,911 shares of the company's stock, valued at approximately $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 159,992 shares of company stock valued at $123,244,714. Company insiders own 0.60% of the company's stock.

Key Quanta Services News

Here are the key news stories impacting Quanta Services this week:

• Positive Sentiment: Quanta Services approved a new $1.0 billion stock repurchase program, which signals management and the board may view the shares as undervalued and provides a potential support for earnings per share over time. Quanta Services Announces Quarterly Cash Dividend and New $1 Billion Stock Repurchase Program
• Positive Sentiment: The company also declared a quarterly dividend of $0.11 per share, reinforcing capital returns to shareholders, although the yield remains modest. Quanta Services Announces Quarterly Cash Dividend and New $1 Billion Stock Repurchase Program
• Positive Sentiment: CICC initiated coverage of Quanta Services (PWR) with an outperform rating, adding another bullish analyst signal. CICC initiates coverage of Quanta Services (PWR) with outperform recommendation
• Neutral Sentiment: Analysts and commentators continue to highlight long-term demand tailwinds from power grid upgrades, renewables, telecom, and AI data center buildouts, which support the investment case but do not represent a near-term catalyst on their own. Quanta vs. MasTec: Which AI Infrastructure Stock is the Better Buy?
• Neutral Sentiment: Quanta also added Joseph Kim to its Board of Directors, a governance update that may be viewed positively but is unlikely to move the stock as much as the buyback announcement. Joseph Kim Joins Quanta Services Board of Directors
• Negative Sentiment: One article noted that the $1 billion buyback is being weighed against growth and valuation concerns, suggesting some investors may question whether the stock is expensive after its strong run. Quanta Services Weighs US$1b Buyback Against Growth And Valuation Concerns

Quanta Services Stock Down 0.1%

Shares of PWR stock opened at $722.60 on Monday. Quanta Services, Inc. has a 12 month low of $326.89 and a 12 month high of $788.75. The stock has a market cap of $108.43 billion, a P/E ratio of 99.12, a P/E/G ratio of 2.48 and a beta of 1.24. 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 50 day simple moving average of $632.01 and a two-hundred day simple moving average of $529.20.

Quanta Services (NYSE:PWR - Get Free Report) last posted 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. The business had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company's revenue was up 26.3% on a year-over-year basis. During the same period in the prior 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, research analysts expect that Quanta Services, Inc. will post 12.84 earnings per share for the current year.

Quanta Services Announces Dividend

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

Quanta Services declared that its board has authorized a share buyback program on Friday, May 22nd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is 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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