Legal & General Group Plc raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 860,812 shares of the construction company's stock after purchasing an additional 27,978 shares during the quarter. Legal & General Group Plc owned 0.58% of Quanta Services worth $363,314,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at approximately $26,000. Activest Wealth Management grew its stake in shares of Quanta Services by 94.1% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company's stock valued at $27,000 after purchasing an additional 32 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $28,000. Cornerstone Planning Group LLC grew its stake in shares of Quanta Services by 213.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company's stock valued at $30,000 after purchasing an additional 49 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Quanta Services by 266.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 77 shares of the construction company's stock valued at $32,000 after purchasing an additional 56 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on PWR. Wall Street Zen upgraded Quanta Services from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Truist Financial set a $851.00 price target on Quanta Services in a research note on Friday, May 1st. DA Davidson raised their price objective on Quanta Services from $450.00 to $575.00 and gave the company a "neutral" rating in a research note on Friday, February 20th. BMO Capital Markets lifted their price objective on Quanta Services from $650.00 to $800.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. Finally, CICC Research assumed coverage on Quanta Services in a research report on Thursday, May 21st. They set an "outperform" rating and a $872.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $730.86.
Check Out Our Latest Report on PWR
Insider Activity
In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the transaction, the chief executive officer directly owned 556,911 shares in the company, valued at $429,183,462.15. This represents a 18.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $3,027,920.00. Following the transaction, the chief accounting officer owned 8,080 shares in the company, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 159,992 shares of company stock worth $123,244,714. Insiders own 0.60% of the company's stock.
Quanta Services Stock Performance
Shares of PWR opened at $743.18 on Wednesday. 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 has a market capitalization of $111.52 billion, a price-to-earnings ratio of 101.95, a PEG ratio of 2.48 and a beta of 1.24. The company's 50 day simple moving average is $638.82 and its 200 day simple moving average is $533.25. Quanta Services, Inc. has a 1 year low of $336.57 and a 1 year high of $788.75.
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 business had revenue of $7.87 billion for 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 company's revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 12.84 EPS for the current year.
Quanta Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be issued 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 is Wednesday, July 1st. Quanta Services's dividend payout ratio is presently 6.04%.
Quanta Services announced that its board has initiated a share buyback program on Friday, May 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.
Quanta Services Company Profile
(
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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