Livforsakringsbolaget Skandia Omsesidigt Sells 2,700 Shares of Quanta Services, Inc. $PWR

Key Points

• Livforsakringsbolaget Skandia Omsesidigt cut its Quanta Services stake by 77.1% in the first quarter, selling 2,700 shares and ending with 800 shares valued at about $439,000.
• Quanta Services reported strong quarterly results, with EPS of $2.68 beating estimates and revenue of $7.87 billion topping expectations; revenue rose 26.3% year over year.
• The company also announced a $1 billion share repurchase program, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and a price target of $751.86.

Livforsakringsbolaget Skandia Omsesidigt reduced its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 77.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 800 shares of the construction company's stock after selling 2,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Quanta Services were worth $439,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Evoke Wealth LLC purchased a new position in shares of Quanta Services in the fourth quarter worth about $368,000. Sequoia Financial Advisors LLC boosted its holdings in Quanta Services by 3.1% during 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 period. Mirae Asset Global Investments Co. Ltd. grew its position in Quanta Services by 9.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,602 shares of the construction company's stock worth $21,357,000 after acquiring an additional 4,568 shares during the last quarter. Lebenthal Global Advisors LLC increased its stake in Quanta Services by 9.8% in the 4th quarter. Lebenthal Global Advisors LLC now owns 9,277 shares of the construction company's stock worth $3,915,000 after purchasing an additional 830 shares during the period. Finally, North Dakota State Investment Board purchased a new position in Quanta Services in the 4th quarter worth approximately $2,131,000. Institutional investors own 90.49% of the company's stock.

Insider Activity at Quanta Services

In related news, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 8,080 shares in the company, valued at $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was 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 directly owned 16,508 shares in the company, valued at approximately $12,722,880.68. The trade was a 61.16% 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 worth $123,244,714 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Quanta Services Trading Down 1.8%

Shares of PWR opened at $648.82 on Thursday. Quanta Services, Inc. has a 1-year low of $363.01 and a 1-year high of $788.75. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. The firm's 50-day moving average price is $708.21 and its 200-day moving average price is $596.64. The firm has a market capitalization of $97.36 billion, a price-to-earnings ratio of 89.00, a PEG ratio of 2.60 and a beta of 1.21.

Quanta Services (NYSE:PWR - Get Free Report) last released 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. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. Quanta Services'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. Sell-side analysts anticipate that Quanta Services, Inc. will post 12.8 EPS for the current year.

Quanta Services declared that its Board of Directors has initiated a share repurchase plan on Friday, May 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were 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 was Wednesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.04%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PWR shares. Weiss Ratings upgraded shares of Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 20th. UBS Group upped their price target 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. TD Cowen increased their price target on shares of Quanta Services from $570.00 to $775.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Citigroup raised their price target on shares of Quanta Services from $640.00 to $733.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Finally, BMO Capital Markets upped their price objective on shares of Quanta Services from $650.00 to $800.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Nineteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $751.86.

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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