Quanta Services, Inc. $PWR Shares Sold by Whittier Trust Co.

Key Points

• Whittier Trust Co. cut its Quanta Services stake by 50.8% in the first quarter, selling 3,028 shares and ending with 2,930 shares worth about $1.62 million.
• Several analysts remain upbeat on PWR, with recent upgrades and higher price targets; the consensus rating is Moderate Buy with a target price of $755.18.
• Quanta Services reported strong quarterly results, beating EPS and revenue estimates, while also announcing a quarterly dividend and a $1 billion share repurchase program.

Whittier Trust Co. lessened its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 50.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,930 shares of the construction company's stock after selling 3,028 shares during the quarter. Whittier Trust Co.'s holdings in Quanta Services were worth $1,624,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in Quanta Services by 2.1% during the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company's stock worth $2,619,626,000 after buying an additional 126,014 shares during the period. Geode Capital Management LLC boosted its position 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 valued at $1,718,371,000 after buying an additional 110,360 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Quanta Services by 35.6% during 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 acquiring an additional 765,822 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Quanta Services by 35.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company's stock worth $1,230,493,000 after acquiring an additional 758,862 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Quanta Services in the fourth quarter worth about $817,285,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PWR. CICC Research started coverage on Quanta Services in a research note on Thursday, May 21st. They set an "outperform" rating and a $872.00 price objective for the company. Oppenheimer upgraded Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 target price for the company in a research note on Thursday, May 28th. JPMorgan Chase & Co. raised their price objective on shares of Quanta Services from $627.00 to $805.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. TD Cowen lifted their target price on Quanta Services from $570.00 to $775.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Finally, Roth Capital boosted their target price on shares of Quanta Services from $600.00 to $650.00 and gave the company a "buy" rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $755.18.

Insider Buying and Selling

In other Quanta Services news, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the business's stock in a transaction on 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 transaction, the chief accounting officer owned 8,080 shares of the company's stock, valued at $6,116,398.40. This trade represents a 33.11% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 159,992 shares of company stock worth $123,244,714. Corporate insiders own 0.60% of the company's stock.

Quanta Services Stock Performance

PWR stock opened at $656.48 on Wednesday. Quanta Services, Inc. has a 1 year low of $363.01 and a 1 year high of $788.75. The stock has a market capitalization of $98.51 billion, a price-to-earnings ratio of 90.05, a PEG ratio of 2.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. The stock's fifty day moving average is $712.92 and its two-hundred day moving average is $587.03.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping the consensus estimate 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% on a year-over-year basis. During the same quarter 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. On average, research analysts predict that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services Announces Dividend

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

Quanta Services announced that its board has authorized a stock repurchase program on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually 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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