Saudi Central Bank Purchases 5,000 Shares of Quanta Services, Inc. $PWR

Key Points

• Saudi Central Bank increased its Quanta Services position by 90.8% in the second quarter, purchasing 5,000 additional shares and bringing its total holdings to 10,504 shares valued at $7.56 million.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $769.25, although ratings range from Strong Buy to Sell.
• Quanta Services reported strong quarterly results, with earnings of $4.24 per share and revenue of $9.56 billion, up 41.1% year over year. The company also announced a $1 billion share-repurchase program and a quarterly dividend of $0.11 per share.

Saudi Central Bank grew its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 90.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,504 shares of the construction company's stock after buying an additional 5,000 shares during the quarter. Saudi Central Bank's holdings in Quanta Services were worth $7,563,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PWR. Bartlett & CO. Wealth Management LLC lifted its stake in Quanta Services by 2.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company's stock worth $282,000 after acquiring an additional 13 shares during the period. Pincus Capital Management LP increased its position in Quanta Services by 0.4% during the 1st quarter. Pincus Capital Management LP now owns 3,690 shares of the construction company's stock valued at $2,026,000 after purchasing an additional 15 shares during the period. SouthState Bank Corp raised its holdings in shares of Quanta Services by 23.5% in the 1st quarter. SouthState Bank Corp now owns 84 shares of the construction company's stock valued at $46,000 after purchasing an additional 16 shares in the last quarter. Lewis Asset Management LLC lifted its position in shares of Quanta Services by 2.5% in the 1st quarter. Lewis Asset Management LLC now owns 692 shares of the construction company's stock worth $380,000 after purchasing an additional 17 shares during the period. Finally, Stiles Financial Services Inc boosted its stake in shares of Quanta Services by 1.8% during the first quarter. Stiles Financial Services Inc now owns 987 shares of the construction company's stock valued at $542,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PWR shares. UBS Group reissued a "buy" rating on shares of Quanta Services in a research note on Monday, August 17th. Mizuho lifted their price target on Quanta Services from $659.00 to $741.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Argus set a $800.00 price target on Quanta Services in a research report on Wednesday, August 5th. 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. Finally, Weiss Ratings lowered Quanta Services from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Quanta Services has a consensus rating of "Moderate Buy" and a consensus price target of $769.25.

Quanta Services Trading Up 0.6%

Shares of NYSE:PWR opened at $623.80 on Friday. The business's 50-day moving average is $651.88 and its 200 day moving average is $642.61. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.10 and a quick ratio of 1.05. Quanta Services, Inc. has a 1 year low of $363.01 and a 1 year high of $788.75. The firm has a market capitalization of $93.78 billion, a P/E ratio of 71.45, a P/E/G ratio of 2.05 and a beta of 1.20.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.93. Quanta Services had a return on equity of 20.55% and a net margin of 4.03%.The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.61 billion. During the same quarter last year, the company earned $2.48 earnings per share. The company's quarterly revenue was up 41.1% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. On average, research analysts predict that Quanta Services, Inc. will post 15.35 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be paid a $0.11 dividend. The ex-dividend date is Thursday, October 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 5.04%.

Quanta Services declared that its board has initiated a share buyback program on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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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