Fideuram Asset Management Ireland dac Takes Position in Quanta Services, Inc. $PWR

Key Points

• Fideuram Asset Management Ireland dac disclosed a new fourth-quarter stake in Quanta Services, buying 1,952 shares valued at about $824,000.
• Several other institutional investors also increased their holdings, and institutions now own 90.49% of Quanta Services’ stock.
• Analysts remain upbeat after the company beat quarterly earnings and revenue estimates, while Quanta also announced a $1 billion share repurchase plan and a quarterly dividend of $0.11 per share.

Fideuram Asset Management Ireland dac bought a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,952 shares of the construction company's stock, valued at approximately $824,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Quanta Services by 2.2% in 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 period. State Street Corp boosted its position in Quanta Services by 1.2% during the third quarter. State Street Corp now owns 6,080,747 shares of the construction company's stock worth $2,519,983,000 after acquiring an additional 73,460 shares during the last quarter. Geode Capital Management LLC boosted its position in Quanta Services by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company's stock worth $1,718,371,000 after acquiring an additional 110,360 shares during the last quarter. Bank of America Corp DE boosted its position in 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 worth $1,208,672,000 after acquiring an additional 765,822 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Quanta Services by 8.8% during the third quarter. Victory Capital Management Inc. now owns 2,156,578 shares of the construction company's stock worth $893,139,000 after acquiring an additional 174,083 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PWR. Jefferies Financial Group boosted their price target on shares of Quanta Services from $654.00 to $857.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Zacks Research upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. Truist Financial set a $851.00 price target on shares of Quanta Services in a research report on Friday, May 1st. Sanford C. Bernstein boosted their price target on shares of Quanta Services from $538.00 to $725.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $733.87.

Insider Buying and Selling

In other news, CAO Paul Nobel sold 4,000 shares of the business'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 sale, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their position. The transaction 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 the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 directly owned 16,508 shares in the company, valued at $12,722,880.68. This trade represents a 61.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 159,992 shares of company stock worth $123,244,714 over the last three months. Insiders own 0.60% of the company's stock.

Quanta Services Price Performance

Shares of PWR stock opened at $710.34 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. The firm's 50-day moving average is $647.92 and its two-hundred day moving average is $538.51. Quanta Services, Inc. has a 12 month low of $336.57 and a 12 month high of $788.75. The company has a market capitalization of $106.59 billion, a PE ratio of 97.44, a price-to-earnings-growth ratio of 2.44 and a beta of 1.24.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.64. The company had revenue of $7.87 billion for 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%. Quanta Services's quarterly revenue was up 26.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Analysts predict that Quanta Services, Inc. will post 12.84 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be paid 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 of this dividend is Wednesday, July 1st. Quanta Services's payout ratio is 6.04%.

Quanta Services announced that its board has initiated a share repurchase plan on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board 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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