Hel Ved Capital Management Ltd purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,966 shares of the construction company's stock, valued at approximately $8,427,000. Quanta Services makes up approximately 2.3% of Hel Ved Capital Management Ltd's investment portfolio, making the stock its 12th biggest position.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PWR. Norges Bank bought a new position in Quanta Services in the fourth quarter valued at about $817,285,000. Bank of America Corp DE lifted 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 valued at $1,208,672,000 after acquiring an additional 765,822 shares during the period. Select Equity Group L.P. lifted its holdings in Quanta Services by 69.3% in 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 acquiring an additional 416,395 shares during the period. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 386,937 shares during the period. Finally, ABN AMRO Bank N.V. lifted its holdings in Quanta Services by 376.5% in the fourth 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. 90.49% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
PWR has been the topic of a number of recent research reports. DA Davidson increased their target price on Quanta Services from $450.00 to $575.00 and gave the company a "neutral" rating in a report on Friday, February 20th. Robert W. Baird increased their target price on Quanta Services from $606.00 to $777.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Stifel Nicolaus set a $784.00 target price on Quanta Services in a report on Friday, May 1st. Citigroup increased their target price on Quanta Services from $640.00 to $733.00 and gave the company a "buy" rating in a report on Monday, April 27th. Finally, Jefferies Financial Group increased their target price on Quanta Services from $654.00 to $857.00 and gave the company a "buy" rating in a report on Monday, May 4th. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $733.87.
Read Our Latest Stock Report on PWR
Quanta Services Stock Performance
NYSE:PWR opened at $708.86 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a 12-month low of $349.06 and a 12-month high of $788.75. The stock has a 50-day moving average price of $675.23 and a 200 day moving average price of $556.55. The stock has a market capitalization of $106.37 billion, a P/E ratio of 97.24, a P/E/G ratio of 2.69 and a beta of 1.20.
Quanta Services (NYSE:PWR - Get Free Report) last released its 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. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7 billion. During the same quarter last year, the business posted $1.78 earnings per share. The firm's revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.
Quanta Services Announces Dividend
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 annualized dividend and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 6.04%.
Quanta Services declared that its board has authorized a stock repurchase plan on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.
Insider Activity
In related news, 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 completion of the sale, the chief executive officer owned 16,508 shares in the company, valued at approximately $12,722,880.68. This trade represents a 61.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $756.98, for a total value of $3,027,920.00. Following the sale, the chief accounting officer owned 8,080 shares of the company's stock, valued at $6,116,398.40. This represents a 33.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 159,992 shares of company stock valued at $123,244,714 in the last quarter. 0.60% of the stock is currently owned by company insiders.
About Quanta Services
(
Free Report)
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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