Faithward Advisors LLC Makes New Investment in Quanta Services, Inc. $PWR

Key Points

• Faithward Advisors opened a new position in Quanta Services in Q4, buying 4,198 shares valued at about $1.77 million.
• Quanta Services continues to draw heavy institutional interest, with 90.49% of shares held by hedge funds and other institutions; several large investors also significantly increased their stakes.
• The company posted strong quarterly results, beating EPS and revenue estimates, and management also authorized a $1 billion share repurchase program while analysts maintain a Moderate Buy consensus.

Faithward Advisors LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,198 shares of the construction company's stock, valued at approximately $1,772,000.

Several other institutional investors and hedge funds have also bought and sold shares of PWR. Norges Bank purchased a new position in Quanta Services in the fourth quarter worth $817,285,000. Bank of America Corp DE grew its holdings in Quanta Services by 35.6% in the third 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 last quarter. Victory Capital Management Inc. grew its holdings in shares of Quanta Services by 35.2% during the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company's stock valued at $1,230,493,000 after buying an additional 758,862 shares during the last quarter. Sands Capital Management LLC purchased a new stake in shares of Quanta Services during the fourth quarter valued at $243,485,000. Finally, Select Equity Group L.P. grew 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 buying an additional 416,395 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. CICC Research assumed coverage on shares of Quanta Services in a report on Thursday, May 21st. They set an "outperform" rating and a $872.00 price objective on the stock. 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 report on Monday, May 11th. Truist Financial set a $851.00 price objective on shares of Quanta Services in a report on Friday, May 1st. Oppenheimer raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price objective on the stock in a report on Thursday, May 28th. Finally, Zacks Research raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $733.87.

Insiders Place Their Bets

In related news, CAO Paul Nobel sold 4,000 shares of the business's 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 transaction, the chief accounting officer directly owned 8,080 shares in the company, valued at $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company's stock in a transaction dated 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. This trade represents a 18.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,992 shares of company stock valued at $123,244,714 over the last 90 days. 0.60% of the stock is currently owned by insiders.

Quanta Services Trading Up 2.3%

NYSE PWR opened at $723.96 on Tuesday. The company has a market capitalization of $108.64 billion, a PE ratio of 99.31, a P/E/G ratio of 2.78 and a beta of 1.20. The company has a fifty day moving average of $678.49 and a 200 day moving average of $559.28. Quanta Services, Inc. has a 1 year low of $353.69 and a 1 year 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.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results 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. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The firm's quarterly revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Research analysts forecast that Quanta Services, Inc. will post 12.81 earnings per share for the current year.

Quanta Services Dividend Announcement

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 given a dividend of $0.11 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services's payout ratio is currently 6.04%.

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

Quanta Services 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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