Diamant Asset Management Inc. Has $162.77 Million Stock Position in Quanta Services, Inc. $PWR

Key Points

• Diamant Asset Management massively increased its Quanta Services stake in Q1, ending with 296,471 shares valued at about $162.8 million.
• Wall Street sentiment remains constructive: analysts currently have a Moderate Buy consensus on PWR, with a target price of $733.87 after several recent upgrades and bullish price-target increases.
• Quanta reported a strong quarter, beating EPS and revenue estimates, and the company also announced a $1 billion share repurchase program along with a small quarterly dividend.

Diamant Asset Management Inc. lifted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 54,802.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 296,471 shares of the construction company's stock after buying an additional 295,931 shares during the period. Diamant Asset Management Inc. owned about 0.20% of Quanta Services worth $162,769,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PWR. Brighton Jones LLC bought a new stake in shares of Quanta Services in the 4th quarter worth about $298,000. Woodline Partners LP grew its stake in Quanta Services by 40.7% during the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company's stock worth $3,170,000 after buying an additional 3,606 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Quanta Services during the second quarter worth approximately $4,632,000. Marshall Wace LLP acquired a new position in shares of Quanta Services in the 2nd quarter worth approximately $996,000. Finally, StoneX Group Inc. acquired a new stake in Quanta Services during the 2nd quarter valued at $204,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Zacks Research upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 8th. Robert W. Baird increased their price objective on shares of Quanta Services from $606.00 to $777.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. B. Riley Financial reaffirmed a "neutral" rating on shares of Quanta Services in a research note on Friday, May 1st. BNP Paribas Exane assumed coverage on shares of Quanta Services in a research report on Tuesday, April 14th. They set a "neutral" rating on the stock. Finally, Weiss Ratings raised shares of Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $733.87.

Insider Activity at Quanta Services

In other news, CAO Paul Nobel sold 4,000 shares of the 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 $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total value of $20,032,294.32. Following the completion of the sale, the chief executive officer directly owned 16,508 shares in the company, valued at $12,722,880.68. This represents 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 worth $123,244,714 over the last 90 days. Corporate insiders own 0.60% of the company's stock.

Quanta Services Trading Down 4.4%

PWR opened at $686.73 on Friday. The firm has a 50 day simple moving average of $702.52 and a 200 day simple moving average of $574.40. Quanta Services, Inc. has a fifty-two week low of $363.01 and a fifty-two week high of $788.75. The company has a market cap of $103.05 billion, a price-to-earnings ratio of 94.20, a price-to-earnings-growth ratio of 2.71 and a beta of 1.20. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The firm had revenue of $7.87 billion for the quarter, compared to analysts' expectations of $7 billion. During the same period last year, the firm earned $1.78 earnings per share. The business's revenue for the quarter was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 12.81 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid 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 dividend payout ratio is presently 6.04%.

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

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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