Trillium Asset Management LLC Reduces Holdings in Quanta Services, Inc. $PWR

Key Points

• Trillium Asset Management cut its Quanta Services stake by 38.2% in the fourth quarter, selling 23,498 shares and ending with 38,005 shares worth about $16.3 million.
• Quanta Services reported better-than-expected quarterly results, with EPS of $2.68 versus $2.04 expected and revenue of $7.87 billion versus $7.0 billion expected, while revenue rose 26.3% year over year.
• The company also announced a $1 billion share buyback and a quarterly dividend of $0.11 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $733.87.

Trillium Asset Management LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 38.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,005 shares of the construction company's stock after selling 23,498 shares during the quarter. Trillium Asset Management LLC's holdings in Quanta Services were worth $16,268,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PWR. Norges Bank purchased a new stake in Quanta Services in the 4th quarter valued at $817,285,000. Bank of America Corp DE grew its holdings in Quanta Services by 35.6% in the 3rd quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company's stock valued at $1,208,672,000 after buying an additional 765,822 shares in the last quarter. Select Equity Group L.P. grew its holdings in Quanta Services by 69.3% in the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company's stock valued at $384,554,000 after buying an additional 416,395 shares in the last quarter. Vanguard Group Inc. grew its holdings in Quanta Services by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company's stock valued at $7,519,079,000 after buying an additional 386,937 shares in the last quarter. Finally, ABN AMRO Bank N.V. grew its holdings in Quanta Services by 376.5% in the 4th quarter. ABN AMRO Bank N.V. now owns 422,486 shares of the construction company's stock valued at $178,264,000 after buying an additional 333,817 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the 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 transaction, the chief executive officer owned 556,911 shares of the company's stock, valued at approximately $429,183,462.15. This represents a 18.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the stock in a transaction dated 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 transaction, the chief accounting officer directly owned 8,080 shares in the company, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is owned by corporate insiders.

Quanta Services Stock Performance

NYSE PWR opened at $708.86 on Friday. The stock has a market cap of $106.37 billion, a PE ratio of 97.24, a P/E/G ratio of 2.69 and a beta of 1.20. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a twelve month low of $349.06 and a twelve month high of $788.75. The stock has a fifty day simple moving average of $675.23 and a 200-day simple moving average of $556.55.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.64. The business had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The company's revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 12.81 earnings per share for the current year.

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

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. CICC Research assumed coverage on Quanta Services in a report on Thursday, May 21st. They issued an "outperform" rating and a $872.00 target price for the company. Cantor Fitzgerald upped their target price on Quanta Services from $630.00 to $901.00 and gave the company an "overweight" rating in a report on Monday, May 11th. UBS Group upped their target price on Quanta Services from $646.00 to $900.00 and gave the company a "buy" rating in a report on Monday, May 4th. Roth Mkm increased their price target on Quanta Services from $600.00 to $650.00 and gave the stock a "buy" rating in a report on Monday, April 6th. Finally, Mizuho increased their price target on Quanta Services from $580.00 to $693.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $733.87.

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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