Louisiana State Employees Retirement System Takes $4.17 Million Position in Quanta Services, Inc. $PWR

Key Points

• Louisiana State Employees Retirement System opened a new position in Quanta Services, buying 7,600 shares valued at about $4.17 million in the first quarter.
• Analysts remain broadly positive on PWR, with a consensus rating of “Moderate Buy” and an average price target of $733.87 after several firms raised targets or upgraded the stock.
• Quanta Services reported strong quarterly results, beating estimates with $2.68 EPS and $7.87 billion in revenue, while also announcing a $1 billion share buyback and a small quarterly dividend.

Louisiana State Employees Retirement System acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,600 shares of the construction company's stock, valued at approximately $4,173,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC increased its stake in shares of Quanta Services by 321.4% in the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company's stock valued at $25,000 after acquiring an additional 45 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Quanta Services during the 2nd quarter worth approximately $26,000. Flagship Harbor Advisors LLC acquired a new position in Quanta Services during the fourth quarter valued at approximately $28,000. MV Capital Management Inc. acquired a new position in Quanta Services during the fourth quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. increased its stake in Quanta Services by 221.7% in the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company's stock valued at $31,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analysts Set New Price Targets

PWR has been the topic of a number of recent analyst reports. CICC Research began coverage on shares of Quanta Services in a research report on Thursday, May 21st. They set an "outperform" rating and a $872.00 price target on the stock. Oppenheimer raised Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price objective on the stock in a research note on Thursday, May 28th. Stifel Nicolaus set a $784.00 target price on Quanta Services in a report on Friday, May 1st. Citigroup boosted their target price on Quanta Services from $640.00 to $733.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Finally, Zacks Research raised Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $733.87.

Insider Activity

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total value of $100,184,500.00. Following the sale, the chief executive officer owned 556,911 shares in the company, valued at approximately $429,183,462.15. The trade was a 18.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Paul Nobel sold 4,000 shares of the firm's 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 transaction, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 159,992 shares of company stock valued at $123,244,714 over the last ninety days. 0.60% of the stock is owned by insiders.

Quanta Services Stock Down 4.4%

Shares of PWR stock opened at $686.73 on Friday. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average of $702.52 and a 200-day moving average of $574.40. The company has a market capitalization of $103.05 billion, a price-to-earnings ratio of 94.20, a P/E/G ratio of 2.83 and a beta of 1.20.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.04 by $0.64. The business 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 firm's revenue was up 26.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, equities research analysts predict that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be given 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 of this dividend is Wednesday, July 1st. Quanta Services's dividend payout ratio is currently 6.04%.

Quanta Services declared that its Board of Directors has approved a stock 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 reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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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