Strs Ohio Cuts Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Strs Ohio reduced its Quanta Services stake by 44.5% in the first quarter, selling 13,506 shares and ending with 16,822 shares valued at about $9.24 million.
• Wall Street remains broadly bullish on PWR, with several firms raising price targets; the stock currently carries an average Moderate Buy rating and a consensus price target of $755.18.
• Quanta Services posted strong quarterly results, beating EPS and revenue estimates and lifting its FY2026 guidance, while also announcing a quarterly dividend and a new $1 billion share buyback program.

Strs Ohio lessened its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 44.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,822 shares of the construction company's stock after selling 13,506 shares during the quarter. Strs Ohio's holdings in Quanta Services were worth $9,236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Quanta Services during the fourth quarter worth about $817,285,000. Bank of America Corp DE boosted its position in Quanta Services by 35.6% during the 3rd quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company's stock worth $1,208,672,000 after purchasing an additional 765,822 shares during the period. Victory Capital Management Inc. increased its holdings in Quanta Services by 35.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company's stock valued at $1,230,493,000 after purchasing an additional 758,862 shares in the last quarter. Corient Private Wealth LLC raised its position in Quanta Services by 137.6% in the fourth quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company's stock valued at $486,065,000 after purchasing an additional 667,050 shares during the period. Finally, Sands Capital Management LLC purchased a new stake in shares of Quanta Services in the fourth quarter worth about $243,485,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PWR has been the topic of several analyst reports. Roth Mkm raised their target price on Quanta Services from $600.00 to $650.00 and gave the company a "buy" rating in a report on Monday, April 6th. TD Cowen upped their target price on shares of Quanta Services from $570.00 to $775.00 and gave the company a "buy" rating in a research note on Monday, May 4th. The Goldman Sachs Group raised their price target on shares of Quanta Services from $685.00 to $826.00 and gave the company a "buy" rating in a report on Monday, May 4th. Citigroup upped 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. Finally, Sanford C. Bernstein lifted their target price on Quanta Services from $538.00 to $725.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 5th. 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $755.18.

Quanta Services Trading Down 0.1%

PWR opened at $667.73 on Monday. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. The stock has a market capitalization of $100.20 billion, a PE ratio of 91.60, a P/E/G ratio of 2.63 and a beta of 1.21. The firm's fifty day moving average price is $711.52 and its 200 day moving average price is $583.67.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $7 billion. During the same quarter in the previous year, the firm earned $1.78 EPS. The company's revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared 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. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Quanta Services's dividend payout ratio is currently 6.04%.

Quanta Services declared that its board has approved a stock repurchase program on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Quanta Services

In related 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 sale, the chief executive officer owned 556,911 shares in the company, valued at $429,183,462.15. This represents a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the company'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 transaction, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 159,992 shares of company stock worth $123,244,714 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

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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