TIAA Trust National Association Has $16.26 Million Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• TIAA Trust National Association reduced its Quanta Services stake by 18.9% in the fourth quarter, selling 8,995 shares and leaving it with 38,518 shares valued at about $16.26 million.
• Quanta Services has continued to attract strong analyst support, with multiple firms raising ratings and price targets; the consensus view is a “Moderate Buy” with an average target of $733.87.
• The company reported better-than-expected quarterly results, including EPS of $2.68 and revenue of $7.87 billion, while also announcing a $1 billion share buyback and a quarterly dividend of $0.11 per share.

TIAA Trust National Association trimmed its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 18.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,518 shares of the construction company's stock after selling 8,995 shares during the quarter. TIAA Trust National Association's holdings in Quanta Services were worth $16,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lansforsakringar Fondforvaltning AB publ raised its holdings in Quanta Services by 5.4% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 46,609 shares of the construction company's stock valued at $19,316,000 after acquiring an additional 2,375 shares in the last quarter. Evoke Wealth LLC acquired a new position in Quanta Services in the 4th quarter valued at approximately $368,000. Atria Investments Inc raised its holdings in Quanta Services by 20.4% in the 3rd quarter. Atria Investments Inc now owns 13,818 shares of the construction company's stock valued at $5,727,000 after acquiring an additional 2,340 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Quanta Services by 3.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company's stock valued at $55,052,000 after acquiring an additional 3,966 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Quanta Services by 9.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,602 shares of the construction company's stock valued at $21,357,000 after acquiring an additional 4,568 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the subject of several recent research reports. Wall Street Zen raised Quanta Services from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Oppenheimer raised Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price target for the company in a report on Thursday, May 28th. The Goldman Sachs Group upped their price target on Quanta Services from $685.00 to $826.00 and gave the company a "buy" rating in a report on Monday, May 4th. Roth Mkm upped their price objective on Quanta Services from $600.00 to $650.00 and gave the company a "buy" rating in a research note on Monday, April 6th. Finally, Stifel Nicolaus set a $784.00 price objective on Quanta Services in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $733.87.

Insiders Place Their Bets

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total value of $100,184,500.00. Following the transaction, the chief executive officer owned 556,911 shares of the company's stock, valued at $429,183,462.15. This represents a 18.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the firm'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 sale, the chief accounting officer directly owned 8,080 shares in the company, valued at $6,116,398.40. The trade was a 33.11% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is currently owned by company insiders.

Quanta Services Stock Down 0.3%

NYSE:PWR opened at $691.41 on Wednesday. The stock's fifty day moving average price is $667.21 and its two-hundred day moving average price is $552.14. 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 company has a market cap of $103.75 billion, a price-to-earnings ratio of 94.84, a P/E/G ratio of 2.73 and a beta of 1.20. Quanta Services, Inc. has a 52-week low of $341.93 and a 52-week high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.64. The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm's quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, analysts anticipate 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. Stockholders of record on Wednesday, July 1st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio is 6.04%.

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

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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