Quanta Services, Inc. $PWR Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its Quanta Services stake by 14.4% in the fourth quarter, selling 44,156 shares and leaving it with 262,463 shares valued at about $110.8 million.
• Quanta Services posted strong quarterly results, with EPS of $2.68 beating estimates by $0.64 and revenue of $7.87 billion topping expectations; revenue also rose 26.3% year over year.
• Several analysts lifted price targets on PWR, and the stock has drawn mostly bullish coverage with a Moderate Buy consensus and an average target price of $708.05, while insiders also sold shares recently.

Handelsbanken Fonder AB trimmed its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 14.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 262,463 shares of the construction company's stock after selling 44,156 shares during the period. Handelsbanken Fonder AB owned 0.18% of Quanta Services worth $110,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of PWR. Bank of America Corp DE raised its position in shares of Quanta Services by 35.6% in the third quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company's stock valued at $1,208,672,000 after buying an additional 765,822 shares during the last quarter. Select Equity Group L.P. raised its position in shares of Quanta Services by 69.3% in the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company's stock valued at $384,554,000 after buying an additional 416,395 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Quanta Services by 2.2% in 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 buying an additional 386,937 shares during the last quarter. ABN AMRO Bank N.V. raised its position in shares of Quanta Services by 376.5% in the fourth quarter. ABN AMRO Bank N.V. now owns 422,486 shares of the construction company's stock valued at $178,264,000 after buying an additional 333,817 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Quanta Services by 29.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 826,283 shares of the construction company's stock valued at $342,428,000 after buying an additional 189,134 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $723.01 on Tuesday. Quanta Services, Inc. has a 12-month low of $320.56 and a 12-month high of $788.75. The stock has a market cap of $108.49 billion, a P/E ratio of 99.18, a PEG ratio of 2.64 and a beta of 1.24. The company has a 50-day moving average price of $619.54 and a 200 day moving average price of $521.74. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.64. The firm had revenue of $7.87 billion during 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%. Quanta Services's revenue was up 26.3% compared to the same quarter last year. During the same period last year, the business earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 12.84 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, April 2nd. Quanta Services's dividend payout ratio (DPR) is 6.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PWR shares. DA Davidson increased their target price on shares of Quanta Services from $450.00 to $575.00 and gave the company a "neutral" rating in a research report on Friday, February 20th. Mizuho increased their target price on shares of Quanta Services from $580.00 to $693.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Truist Financial set a $851.00 target price on shares of Quanta Services in a research report on Friday, May 1st. Citigroup raised their price objective on shares of Quanta Services from $640.00 to $733.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Finally, BMO Capital Markets raised their price objective on shares of Quanta Services from $650.00 to $800.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and an average price target of $708.05.

Insider Activity

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the transaction, the chief executive officer owned 556,911 shares of the company's stock, valued at $429,183,462.15. This trade represents a 18.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the 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 transaction, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.