Quanta Services, Inc. $PWR Shares Purchased by Royal Bank of Canada

Royal Bank of Canada boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,264,827 shares of the construction company's stock after acquiring an additional 83,363 shares during the period. Royal Bank of Canada owned 0.84% of Quanta Services worth $694,415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PWR. Regal Partners Ltd purchased a new stake in shares of Quanta Services in the first quarter valued at about $514,000. Empowered Funds LLC raised its stake in Quanta Services by 26.7% during the first quarter. Empowered Funds LLC now owns 23,918 shares of the construction company's stock worth $13,131,000 after purchasing an additional 5,042 shares during the period. Encompass Capital Advisors LLC acquired a new position in Quanta Services in the 1st quarter valued at about $32,941,000. Quantinno Capital Management LP increased its holdings in shares of Quanta Services by 18.3% during the 1st quarter. Quantinno Capital Management LP now owns 67,090 shares of the construction company's stock worth $36,834,000 after buying an additional 10,360 shares during the last quarter. Finally, SummitTX Capital L.P. acquired a new stake in Quanta Services during the first quarter worth $1,108,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Insider Activity

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 556,911 shares in the company, valued at approximately $429,183,462.15. This represents a 18.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Paul Nobel sold 4,000 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $756.98, for a total value 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. This trade represents a 33.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 159,992 shares of company stock valued at $123,244,714. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PWR shares. Sanford C. Bernstein raised their price objective on Quanta Services from $538.00 to $725.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 5th. Truist Financial lifted their price target on shares of Quanta Services from $851.00 to $940.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Zacks Research downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Mizuho set a $645.00 price objective on Quanta Services in a research note on Monday, July 20th. Finally, BNP Paribas Exane began coverage on Quanta Services in a research note on Tuesday, April 14th. They set a "neutral" rating on the stock. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $745.55.

Quanta Services Price Performance

PWR stock opened at $588.03 on Wednesday. The business's 50-day moving average is $685.36 and its two-hundred day moving average is $609.13. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. The firm has a market capitalization of $88.24 billion, a P/E ratio of 80.66, a P/E/G ratio of 2.44 and a beta of 1.21. Quanta Services, Inc. has a 1 year low of $363.01 and a 1 year high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last released its 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 firm had revenue of $7.87 billion for 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 business's quarterly revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Analysts anticipate that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.

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

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Quanta Services's payout ratio is 6.04%.

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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