Freemont Management S.A. Raises Stock Position in Quanta Services, Inc. $PWR

Key Points

• Freemont Management S.A. increased its Quanta Services stake by 200% in the fourth quarter, bringing its holdings to 2,100 shares valued at about $886,000.
• Several other major institutional investors also boosted their positions, and hedge funds and institutions now own 90.49% of Quanta Services’ stock.
• Analysts remain broadly bullish after the company beat quarterly earnings and revenue estimates; UBS and Cantor Fitzgerald both raised price targets, and the consensus rating is Moderate Buy with a target of $708.05.

Freemont Management S.A. grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 200.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,100 shares of the construction company's stock after acquiring an additional 1,400 shares during the period. Freemont Management S.A.'s holdings in Quanta Services were worth $886,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PWR. Bank of America Corp DE raised its stake in shares of Quanta Services by 35.6% in the 3rd 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 acquiring an additional 765,822 shares during the period. Select Equity Group L.P. raised its stake in shares of Quanta Services by 69.3% in the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company's stock valued at $384,554,000 after acquiring an additional 416,395 shares during the period. Vanguard Group Inc. raised its stake in shares of Quanta Services by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company's stock valued at $7,519,079,000 after acquiring an additional 386,937 shares during the period. ABN AMRO Bank N.V. raised its stake in shares of Quanta Services by 376.5% in the 4th quarter. ABN AMRO Bank N.V. now owns 422,486 shares of the construction company's stock valued at $178,264,000 after acquiring an additional 333,817 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Quanta Services by 29.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 826,283 shares of the construction company's stock valued at $342,428,000 after acquiring an additional 189,134 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Insider Activity

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total value of $100,184,500.00. Following the completion of the transaction, the chief executive officer directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services 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 completion of the transaction, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 159,992 shares of company stock valued at $123,244,714 over the last ninety days. Company insiders own 0.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PWR shares. UBS Group lifted their price target on shares of Quanta Services from $646.00 to $900.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. B. Riley Financial reaffirmed a "neutral" rating on shares of Quanta Services in a research note on Friday, May 1st. Cantor Fitzgerald lifted their price target on shares of Quanta Services from $630.00 to $901.00 and gave the stock an "overweight" rating in a research note on Monday. BNP Paribas Exane began coverage on shares of Quanta Services in a research note on Tuesday, April 14th. They set a "neutral" rating on the stock. Finally, Roth Mkm lifted their price target on shares of Quanta Services from $600.00 to $650.00 and gave the stock a "buy" rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $708.05.

Quanta Services Price Performance

Shares of PWR stock opened at $774.65 on Thursday. The firm has a market cap of $116.24 billion, a P/E ratio of 106.26, a P/E/G ratio of 2.63 and a beta of 1.24. 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, Inc. has a 1-year low of $320.56 and a 1-year high of $788.75. The firm has a fifty day moving average of $607.77 and a two-hundred day moving average of $515.04.

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 for the quarter, topping the consensus estimate of $2.04 by $0.64. The company 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 firm's revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period last year, the business earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 12.84 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Thursday, April 2nd were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. Quanta Services's payout ratio is 6.04%.

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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