Harvest Fund Management Co. Ltd Buys 2,479 Shares of Quanta Services, Inc. $PWR

Key Points

• Harvest Fund Management sharply increased its Quanta Services stake by 834.7% in the fourth quarter, buying 2,479 additional shares for a total holding of 2,776 shares worth about $1.17 million.
• Analysts remain broadly bullish on Quanta Services (NYSE:PWR), with recent price target hikes from UBS and Goldman Sachs and a consensus rating of Moderate Buy with a target of $733.87.
• The company reported better-than-expected quarterly results, including EPS of $2.68 versus estimates of $2.04 and revenue of $7.87 billion, while also authorizing a $1 billion share buyback and a small quarterly dividend.

Harvest Fund Management Co. Ltd lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 834.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,776 shares of the construction company's stock after purchasing an additional 2,479 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Quanta Services were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PWR. Lansforsakringar Fondforvaltning AB publ increased its stake in Quanta Services by 5.4% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 46,609 shares of the construction company's stock valued at $19,316,000 after purchasing an additional 2,375 shares in the last quarter. Evoke Wealth LLC purchased a new stake in shares of Quanta Services in the 4th quarter valued at $368,000. Yahav Achim Ve Achayot Provident Funds Management Co Ltd. purchased a new stake in shares of Quanta Services in the 3rd quarter valued at $1,752,000. Atria Investments Inc boosted its holdings in shares of Quanta Services by 20.4% in the 3rd quarter. Atria Investments Inc now owns 13,818 shares of the construction company's stock valued at $5,727,000 after acquiring an additional 2,340 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Quanta Services by 3.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company's stock valued at $55,052,000 after acquiring an additional 3,966 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

PWR has been the topic of several recent research reports. UBS Group upped their price objective on shares of Quanta Services from $646.00 to $900.00 and gave the company a "buy" rating in a report on Monday, May 4th. BNP Paribas Exane initiated coverage on shares of Quanta Services in a report on Tuesday, April 14th. They issued a "neutral" rating on the stock. DA Davidson upped their price objective on shares of Quanta Services from $450.00 to $575.00 and gave the company a "neutral" rating in a report on Friday, February 20th. The Goldman Sachs Group increased their price target on shares of Quanta Services from $685.00 to $826.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Finally, Oppenheimer raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price target on the stock in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $733.87.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $696.07 on Friday. The company's fifty day moving average price is $661.40 and its 200 day moving average price is $547.76. Quanta Services, Inc. has a 1 year low of $341.93 and a 1 year high of $788.75. The company has a market capitalization of $104.45 billion, a PE ratio of 95.48, a price-to-earnings-growth ratio of 2.83 and a beta of 1.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.64. The firm 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%. The firm's quarterly revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, research analysts predict that Quanta Services, Inc. will post 12.81 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders 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 dividend payout ratio is currently 6.04%.

Quanta Services announced that its Board of Directors has approved a share buyback plan on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the company'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 approximately $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company's stock in a transaction on 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 transaction, the chief executive officer owned 556,911 shares of the company's stock, valued at $429,183,462.15. This represents a 18.93% decrease in their ownership of the stock. 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 company insiders.

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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