Quanta Services, Inc. $PWR Shares Sold by Burney Co.

Key Points

• Burney Co. cut its Quanta Services stake by 19.7% in the first quarter, selling 2,918 shares and leaving it with 11,913 shares valued at about $6.54 million.
• Several analysts turned more bullish on PWR, with recent upgrades and higher price targets; the consensus rating is now Moderate Buy with a target price of $755.18.
• Quanta Services reported strong quarterly results, beating EPS and revenue estimates, and it also announced a $1 billion share repurchase plan along with a small quarterly dividend.

Burney Co. decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,913 shares of the construction company's stock after selling 2,918 shares during the quarter. Burney Co.'s holdings in Quanta Services were worth $6,540,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. State Street Corp grew its holdings in Quanta Services by 2.1% during the fourth quarter. State Street Corp now owns 6,206,761 shares of the construction company's stock worth $2,619,626,000 after acquiring an additional 126,014 shares during the period. Geode Capital Management LLC boosted its position in shares of Quanta Services by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company's stock valued at $1,718,371,000 after purchasing an additional 110,360 shares in the last quarter. Bank of America Corp DE grew its stake in shares of 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 purchasing an additional 765,822 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Quanta Services by 35.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company's stock worth $1,230,493,000 after purchasing an additional 758,862 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $817,285,000. Institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on PWR shares. Zacks Research upgraded shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, May 8th. Stifel Nicolaus set a $784.00 price target on Quanta Services in a report on Friday, May 1st. Oppenheimer raised Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price objective for the company in a research note on Thursday, May 28th. BMO Capital Markets lifted their target price on Quanta Services from $650.00 to $800.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. Finally, Sanford C. Bernstein boosted their target price 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. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $755.18.

Insiders Place Their Bets

In other Quanta Services news, 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 transaction of $3,027,920.00. Following the completion of the sale, the chief accounting officer directly owned 8,080 shares in the company, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total value of $100,184,500.00. Following the completion of the transaction, the chief executive officer owned 556,911 shares in the company, valued at $429,183,462.15. This represents a 18.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,992 shares of company stock worth $123,244,714 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Quanta Services Stock Performance

Quanta Services stock opened at $673.73 on Tuesday. Quanta Services, Inc. has a fifty-two week low of $363.01 and a fifty-two week high of $788.75. The firm's 50 day simple moving average is $712.30 and its 200-day simple moving average is $585.33. 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 company has a market cap of $101.10 billion, a P/E ratio of 92.42, a price-to-earnings-growth ratio of 2.63 and a beta of 1.21.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The business had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The firm's quarterly 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. As a group, equities research analysts predict that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be given a $0.11 dividend. 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 (DPR) is 6.04%.

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

Quanta Services Company 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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