Mcrae Capital Management Inc. Lowers Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Mcrae Capital Management cut its Quanta Services stake by 12.7% in the fourth quarter, selling 5,630 shares and leaving it with 38,674 shares valued at about $16.3 million.
• Quanta Services reported strong quarterly results, with EPS of $2.68 and revenue of $7.87 billion, both beating analyst expectations; revenue rose 26.3% from a year earlier.
• The company also announced a $1 billion share repurchase program and a quarterly dividend of $0.11 per share, while analysts maintained a generally positive outlook with a consensus rating of “Moderate Buy.”

Mcrae Capital Management Inc. trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 38,674 shares of the construction company's stock after selling 5,630 shares during the period. Quanta Services makes up approximately 3.3% of Mcrae Capital Management Inc.'s holdings, making the stock its 12th largest position. Mcrae Capital Management Inc.'s holdings in Quanta Services were worth $16,323,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Quanta Services by 2.2% during the third quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company's stock valued at $7,519,079,000 after purchasing an additional 386,937 shares during the last quarter. State Street Corp raised its holdings in Quanta Services by 1.2% in the 3rd quarter. State Street Corp now owns 6,080,747 shares of the construction company's stock worth $2,519,983,000 after acquiring an additional 73,460 shares during the last quarter. Geode Capital Management LLC raised its holdings in Quanta Services by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company's stock worth $1,718,371,000 after acquiring an additional 110,360 shares during the last quarter. Bank of America Corp DE raised its holdings in Quanta Services by 35.6% in the 3rd quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company's stock worth $1,208,672,000 after acquiring an additional 765,822 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Quanta Services by 8.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,156,578 shares of the construction company's stock worth $893,139,000 after acquiring an additional 174,083 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Earl C. Jr. Austin sold 25,992 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total transaction 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 $12,722,880.68. The trade was a 61.16% 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 business's 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 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. In the last three months, insiders have sold 159,992 shares of company stock valued at $123,244,714. Insiders own 0.60% of the company's stock.

Quanta Services Price Performance

Shares of PWR opened at $717.39 on Thursday. The firm has a market cap of $107.65 billion, a PE ratio of 98.41, a P/E/G ratio of 2.78 and a beta of 1.20. 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 has a fifty day simple moving average of $656.14 and a two-hundred day simple moving average of $544.67. 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 announced its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 3.67% and a return on equity of 18.64%. The company's quarterly revenue was up 26.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities analysts anticipate that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services announced 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 reacquire 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.11 per share. The ex-dividend date is 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 currently 6.04%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PWR. Argus boosted their price objective on shares of Quanta Services from $540.00 to $650.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. Zacks Research upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, May 8th. DA Davidson boosted their price objective on shares of Quanta Services from $450.00 to $575.00 and gave the stock a "neutral" rating in a report on Friday, February 20th. Citigroup boosted their price objective 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, TD Cowen boosted their price objective on shares of Quanta Services from $570.00 to $775.00 and gave the stock a "buy" rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Quanta Services has a consensus rating of "Moderate Buy" and a consensus target price of $733.87.

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.

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