Prudential PLC Raises Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Prudential PLC sharply increased its Quanta Services stake by 182.9% in the fourth quarter, ending with 5,844 shares valued at about $2.47 million.
• Quanta Services reported strong quarterly results, beating analyst expectations with earnings of $2.68 per share and revenue of $7.87 billion, while revenue rose 26.3% year over year.
• Management and analysts remain active on the stock: the board approved a $1 billion share repurchase plan, several analysts raised price targets, and insiders sold shares in recent months.

Prudential PLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 182.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,844 shares of the construction company's stock after purchasing an additional 3,778 shares during the period. Prudential PLC's holdings in Quanta Services were worth $2,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sunburst Financial Group LLC lifted its holdings in Quanta Services by 2.0% during the 4th quarter. Sunburst Financial Group LLC now owns 1,147 shares of the construction company's stock worth $484,000 after buying an additional 22 shares during the last quarter. Spirepoint Private Client LLC lifted its holdings in Quanta Services by 2.0% during the 4th quarter. Spirepoint Private Client LLC now owns 1,107 shares of the construction company's stock worth $467,000 after buying an additional 22 shares during the last quarter. Vista Capital Partners Inc. lifted its holdings in Quanta Services by 3.1% during the 4th quarter. Vista Capital Partners Inc. now owns 742 shares of the construction company's stock worth $313,000 after buying an additional 22 shares during the last quarter. Headinvest LLC lifted its holdings in Quanta Services by 2.2% during the 4th quarter. Headinvest LLC now owns 1,001 shares of the construction company's stock worth $422,000 after buying an additional 22 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its holdings in Quanta Services by 0.5% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 4,750 shares of the construction company's stock worth $1,968,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Insider Activity at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 16,508 shares in the company, valued at $12,722,880.68. This trade represents a 61.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the completion of the sale, the chief accounting officer owned 8,080 shares in the company, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research analyst reports. Mizuho increased their target price on Quanta Services from $580.00 to $693.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. TD Cowen increased their target price on Quanta Services from $570.00 to $775.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Jefferies Financial Group increased their target price on Quanta Services from $654.00 to $857.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Oppenheimer raised Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 target price on the stock in a report on Thursday, May 28th. Finally, Argus increased their target price on Quanta Services from $540.00 to $650.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $733.87.

Quanta Services Stock Up 0.1%

Shares of Quanta Services stock opened at $696.07 on Monday. 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 business's 50 day simple moving average is $661.40 and its 200-day simple moving average is $548.61. The stock has a market capitalization of $104.45 billion, a price-to-earnings ratio of 95.48, a PEG ratio of 2.74 and a beta of 1.20. Quanta Services, Inc. has a twelve month low of $341.93 and a twelve month high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 18.64% and a net margin of 3.67%.The business's quarterly revenue was up 26.3% on a year-over-year basis. During the same period 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 forecast that Quanta Services, Inc. will post 12.81 earnings per share for the current year.

Quanta Services announced that its board has approved a stock repurchase plan on Friday, May 22nd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Quanta Services Dividend Announcement

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

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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