First National Bank of Omaha Sells 3,784 Shares of Quanta Services, Inc. $PWR

Key Points

• First National Bank of Omaha cut its Quanta Services stake by 15.8% in the fourth quarter, selling 3,784 shares and ending the period with 20,142 shares valued at about $8.5 million.
• Several analysts turned more bullish on PWR, with firms like TD Cowen, Citigroup, Evercore, and UBS raising price targets; the stock now has a consensus rating of Moderate Buy and an average target price of $733.87.
• Quanta Services reported strong quarterly results, beating earnings and revenue estimates, while the company also announced a $1 billion share buyback and a small quarterly dividend of $0.11 per share.

First National Bank of Omaha reduced its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 15.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,142 shares of the construction company's stock after selling 3,784 shares during the period. First National Bank of Omaha's holdings in Quanta Services were worth $8,501,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Quantum Portfolio Management LLC grew its holdings in shares of Quanta Services by 2.2% in the fourth quarter. Quantum Portfolio Management LLC now owns 946 shares of the construction company's stock valued at $399,000 after purchasing an additional 20 shares during the period. Sunburst Financial Group LLC grew its holdings in shares of Quanta Services by 2.0% in the fourth quarter. Sunburst Financial Group LLC now owns 1,147 shares of the construction company's stock valued at $484,000 after purchasing an additional 22 shares during the period. Spirepoint Private Client LLC grew its holdings in shares of Quanta Services by 2.0% in the fourth quarter. Spirepoint Private Client LLC now owns 1,107 shares of the construction company's stock valued at $467,000 after purchasing an additional 22 shares during the period. Headinvest LLC grew its holdings in shares of Quanta Services by 2.2% in the fourth quarter. Headinvest LLC now owns 1,001 shares of the construction company's stock valued at $422,000 after purchasing an additional 22 shares during the period. Finally, Vista Capital Partners Inc. grew its holdings in shares of Quanta Services by 3.1% in the fourth quarter. Vista Capital Partners Inc. now owns 742 shares of the construction company's stock valued at $313,000 after purchasing an additional 22 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PWR. TD Cowen upped 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. Citigroup upped their target price on shares of Quanta Services from $640.00 to $733.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Evercore upped their target price on shares of Quanta Services from $635.00 to $800.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. UBS Group upped their target price on shares of Quanta Services from $646.00 to $900.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Finally, BNP Paribas Exane assumed coverage on shares of Quanta Services in a research report on Tuesday, April 14th. They issued a "neutral" rating on the stock. One 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 company's stock. Based on data from MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and an average target price of $733.87.

Insider Activity

In other news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction dated 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 sale, the chief accounting officer owned 8,080 shares of the company's stock, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following 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 159,992 shares of company stock worth $123,244,714 in the last three months. Corporate insiders own 0.60% of the company's stock.

Quanta Services Stock Up 3.7%

Shares of PWR opened at $708.86 on Friday. The stock has a market capitalization of $106.37 billion, a PE ratio of 97.24, a P/E/G ratio of 2.69 and a beta of 1.20. Quanta Services, Inc. has a 1 year low of $349.06 and a 1 year high of $788.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. The company's 50-day simple moving average is $675.23 and its 200-day simple moving average is $556.55.

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

Quanta Services Dividend Announcement

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

Quanta Services announced that its Board of Directors has authorized a stock buyback plan on Friday, May 22nd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication 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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