Quanta Services, Inc. $PWR Stock Holdings Lessened by TD Asset Management Inc

Key Points

• TD Asset Management reduced its Quanta Services stake by 11.7% in the fourth quarter, though it still held 101,896 shares worth about $43.0 million. Overall, institutional investors remain heavily involved, owning 90.49% of the stock.
• Wall Street analysts have turned more bullish on PWR, with several firms raising price targets to the $733-$826 range and the consensus rating sitting at Moderate Buy. The average price target now stands at $733.87.
• Quanta Services reported strong quarterly results, beating earnings and revenue estimates with $2.68 EPS and $7.87 billion in revenue, while also authorizing a $1 billion share repurchase program and declaring a quarterly dividend of $0.11 per share.

TD Asset Management Inc trimmed its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,896 shares of the construction company's stock after selling 13,563 shares during the quarter. TD Asset Management Inc owned 0.07% of Quanta Services worth $43,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in PWR. Brighton Jones LLC purchased a new stake in shares of Quanta Services in the fourth quarter worth approximately $298,000. Woodline Partners LP lifted its position in shares of Quanta Services by 40.7% in the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company's stock worth $3,170,000 after purchasing an additional 3,606 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Quanta Services in the second quarter worth approximately $4,632,000. Marshall Wace LLP purchased a new stake in shares of Quanta Services in the second quarter worth approximately $996,000. Finally, StoneX Group Inc. bought a new position in Quanta Services during the second quarter valued at approximately $204,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PWR shares. BMO Capital Markets raised their price objective on shares of Quanta Services from $650.00 to $800.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. The Goldman Sachs Group raised their price objective on shares of Quanta Services from $685.00 to $826.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Oppenheimer raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price objective on the stock in a research report on Thursday, May 28th. Evercore raised their price objective on shares of Quanta Services from $635.00 to $800.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. Finally, Citigroup raised their price objective on shares of Quanta Services from $640.00 to $733.00 and gave the company a "buy" rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $733.87.

Quanta Services Trading Down 3.2%

Shares of PWR stock opened at $696.07 on Friday. Quanta Services, Inc. has a 12 month low of $341.93 and a 12 month high of $788.75. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The business's 50 day moving average is $661.40 and its two-hundred day moving average is $547.76. The company has a market cap of $104.45 billion, a PE ratio of 95.48, a price-to-earnings-growth ratio of 2.74 and a beta of 1.20.

Quanta Services (NYSE:PWR - Get Free Report) last announced 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 return on equity of 18.64% and a net margin of 3.67%.The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter last year, the company posted $1.78 earnings per share. The company's revenue for the quarter was up 26.3% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities analysts predict that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date 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 stock repurchase program on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity at Quanta Services

In other news, CAO Paul Nobel sold 4,000 shares of the firm's stock in a transaction 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 sale, the chief accounting officer owned 8,080 shares in the company, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm's stock in a transaction on 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 owned 556,911 shares in the company, valued at approximately $429,183,462.15. The trade was a 18.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 159,992 shares of company stock worth $123,244,714. Corporate insiders own 0.60% of the company's stock.

About Quanta Services

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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