Livforsakringsbolaget Skandia Omsesidigt Has $1.48 Million Holdings in Quanta Services, Inc. $PWR

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its Quanta Services stake by 59.3% in the fourth quarter, leaving it with 3,500 shares valued at about $1.48 million.
• Analysts have turned increasingly bullish on PWR, with several firms raising price targets; the stock now carries a consensus rating of “Moderate Buy” and an average target price of $733.87.
• Quanta Services reported strong quarterly results, beating EPS and revenue estimates, and also announced a $1 billion share repurchase program along with a small quarterly dividend.

Livforsakringsbolaget Skandia Omsesidigt cut its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 59.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,500 shares of the construction company's stock after selling 5,100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Quanta Services were worth $1,477,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Lansforsakringar Fondforvaltning AB publ increased its holdings in Quanta Services by 5.4% in the third 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 during the period. Evoke Wealth LLC acquired a new stake in Quanta Services in the fourth quarter valued at $368,000. Yahav Achim Ve Achayot Provident Funds Management Co Ltd. acquired a new stake in Quanta Services in the third quarter valued at $1,752,000. Atria Investments Inc increased its holdings in Quanta Services by 20.4% in the third quarter. Atria Investments Inc now owns 13,818 shares of the construction company's stock valued at $5,727,000 after purchasing an additional 2,340 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in Quanta Services by 3.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company's stock valued at $55,052,000 after purchasing an additional 3,966 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PWR has been the topic of a number of recent analyst reports. Evercore lifted their price objective on Quanta Services from $635.00 to $800.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Citigroup lifted their price objective on Quanta Services from $640.00 to $733.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. The Goldman Sachs Group increased their price target on Quanta Services from $685.00 to $826.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Truist Financial set a $851.00 price target on Quanta Services in a report on Friday, May 1st. Finally, TD Cowen increased their price target on Quanta Services from $570.00 to $775.00 and gave the stock a "buy" rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and a consensus target price of $733.87.

Quanta Services Price Performance

PWR stock opened at $718.32 on Friday. The stock has a market capitalization of $107.79 billion, a PE ratio of 98.53, a price-to-earnings-growth ratio of 2.82 and a beta of 1.20. The company's 50-day moving average is $658.94 and its 200-day moving average is $546.71. 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 $341.93 and a 1 year high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data 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 company had revenue of $7.87 billion for the quarter, compared to analysts' expectations of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The business's revenue was up 26.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities research analysts expect that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Quanta Services declared that its board has initiated a share repurchase plan 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 plans are generally a sign that the company's board believes its shares are undervalued.

Insider Activity

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of Quanta Services 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief executive officer owned 556,911 shares of the company's stock, valued at $429,183,462.15. This trade represents a 18.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is owned by insiders.

Quanta Services Company 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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