Hilltop Holdings Inc. Takes Position in Quanta Services, Inc. $PWR

Key Points

• Hilltop Holdings opened a new position in Quanta Services during the first quarter, buying 2,650 shares valued at about $1.455 million.
• Several other institutional investors also adjusted their stakes, and 90.49% of Quanta Services is now held by hedge funds and other institutions.
• Quanta Services reported strong quarterly results, with EPS of $2.68 and revenue of $7.87 billion, both beating estimates; the company also authorized a $1 billion share repurchase program.

Hilltop Holdings Inc. acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,650 shares of the construction company's stock, valued at approximately $1,455,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in Quanta Services during the 4th quarter valued at $298,000. Woodline Partners LP boosted its position in shares of Quanta Services by 40.7% in the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company's stock worth $3,170,000 after buying an additional 3,606 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Quanta Services during the second quarter valued at $4,632,000. Marshall Wace LLP acquired a new position in Quanta Services during the second quarter valued at $996,000. Finally, StoneX Group Inc. purchased a new stake in Quanta Services in the 2nd quarter worth about $204,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on PWR. Oppenheimer upgraded Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price objective for the company in a research report on Thursday, May 28th. Citigroup upped 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. JPMorgan Chase & Co. restated a "neutral" rating and set a $714.00 price target on shares of Quanta Services in a report on Tuesday, July 21st. Truist Financial boosted their price objective on shares of Quanta Services from $851.00 to $940.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Finally, B. Riley Financial reiterated a "neutral" rating on shares of Quanta Services in a research note on Friday, May 1st. Seventeen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and an average price target of $745.55.

Insider Activity at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total value of $20,032,294.32. Following the completion of the sale, the chief executive officer owned 16,508 shares of the company's stock, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,992 shares of company stock valued at $123,244,714 over the last three months. Insiders own 0.60% of the company's stock.

Quanta Services Stock Performance

Shares of PWR stock opened at $626.03 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. Quanta Services, Inc. has a fifty-two week low of $363.01 and a fifty-two week high of $788.75. The stock's 50-day moving average is $689.96 and its two-hundred day moving average is $605.59. The firm has a market cap of $93.94 billion, a P/E ratio of 85.88, a PEG ratio of 2.46 and a beta of 1.21.

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, beating the consensus estimate of $2.04 by $0.64. The business had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm's revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Analysts predict that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st were paid a $0.11 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services's payout ratio is 6.04%.

Quanta Services announced that its board has initiated a stock repurchase program on Friday, May 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its stock is undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.