Quanta Services, Inc. $PWR Stock Holdings Cut by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. trimmed its Quanta Services stake by 4.2% in the first quarter, selling 15,244 shares and leaving it with 351,618 shares valued at about $193.0 million.
• Quanta Services posted strong quarterly results, with EPS of $2.68 beating estimates by $0.64 and revenue of $7.87 billion topping forecasts, while revenue rose 26.3% year over year.
• Management and analysts remain active on the stock: the company authorized a $1 billion buyback, several analysts raised targets and maintained bullish ratings, and insiders have sold shares in recent months, including CEO Earl C. Austin Jr.'s large sale.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 351,618 shares of the construction company's stock after selling 15,244 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Quanta Services worth $193,045,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PWR. Cedar Mountain Advisors LLC grew its holdings in shares of Quanta Services by 321.4% in the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company's stock worth $25,000 after acquiring an additional 45 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in Quanta Services in the 2nd quarter worth about $26,000. Flagship Harbor Advisors LLC purchased a new position in Quanta Services in the 4th quarter worth about $28,000. MV Capital Management Inc. acquired a new stake in Quanta Services during the 4th quarter worth about $30,000. Finally, Meeder Asset Management Inc. lifted its stake in Quanta Services by 221.7% during the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company's stock valued at $31,000 after buying an additional 51 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Up 0.2%

Quanta Services stock opened at $667.36 on Friday. Quanta Services, Inc. has a twelve month low of $363.01 and a twelve month high of $788.75. 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 firm has a market cap of $100.14 billion, a PE ratio of 91.54, a P/E/G ratio of 2.63 and a beta of 1.21. The firm's 50 day moving average price is $714.19 and its two-hundred day moving average price is $590.45.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the business posted $1.78 EPS. The company's revenue for the quarter was up 26.3% on a year-over-year basis. 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 12.78 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Quanta Services announced that its Board of Directors has initiated a share buyback program on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PWR shares. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. 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 note on Friday, May 1st. TD Cowen lifted their price objective on shares of Quanta Services from $570.00 to $775.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Truist Financial boosted their target price on shares of Quanta Services from $851.00 to $940.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Finally, Oppenheimer raised Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 target price for the company in a research report on Thursday, May 28th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $755.18.

Insider Transactions at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the sale, the chief executive officer directly owned 556,911 shares in the company, valued at $429,183,462.15. The trade was a 18.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Paul Nobel sold 4,000 shares of the business'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 directly owned 8,080 shares of the company's stock, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 159,992 shares of company stock worth $123,244,714 in the last 90 days. Corporate insiders own 0.60% of the company's stock.

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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