Union Bancaire Privee UBP SA Acquires 12,843 Shares of Quanta Services, Inc. $PWR

Key Points

• Union Bancaire Privee UBP SA boosted its stake in Quanta Services by 12.4% in Q1, buying 12,843 additional shares and bringing its total holding to 116,819 shares valued at about $63.1 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 has seen bullish analyst sentiment and shareholder returns, with a consensus rating of “Moderate Buy,” a $733.87 average price target, a new $1 billion share repurchase authorization, and a quarterly dividend of $0.11 per share.

Union Bancaire Privee UBP SA increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,819 shares of the construction company's stock after acquiring an additional 12,843 shares during the quarter. Quanta Services makes up about 1.1% of Union Bancaire Privee UBP SA's holdings, making the stock its 17th largest position. Union Bancaire Privee UBP SA owned about 0.08% of Quanta Services worth $63,073,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cambient Family Office LLC boosted its stake in Quanta Services by 3.0% in the first quarter. Cambient Family Office LLC now owns 1,185 shares of the construction company's stock valued at $651,000 after acquiring an additional 35 shares during the last quarter. Lewis Asset Management LLC raised its holdings 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. Riverstone Advisors LLC increased its position in Quanta Services by 27.2% in the first quarter. Riverstone Advisors LLC now owns 1,387 shares of the construction company's stock worth $761,000 after buying an additional 297 shares during the last quarter. Waterway Wealth Management LLC raised its stake in shares of Quanta Services by 3.9% in the first quarter. Waterway Wealth Management LLC now owns 2,892 shares of the construction company's stock valued at $1,588,000 after buying an additional 109 shares during the period. Finally, Topsail Wealth Management LLC bought a new stake in shares of Quanta Services in the first quarter valued at $255,000. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Truist Financial set a $851.00 price objective on Quanta Services in a research note on Friday, May 1st. Cantor Fitzgerald raised their price objective on shares of Quanta Services from $630.00 to $901.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. JPMorgan Chase & Co. boosted their target price on shares of Quanta Services from $627.00 to $805.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Zacks Research upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 8th. Finally, Robert W. Baird increased their price target on shares of Quanta Services from $606.00 to $777.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $733.87.

Insider Transactions at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the completion of the sale, the chief executive officer owned 16,508 shares of the company's stock, valued at approximately $12,722,880.68. This represents a 61.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the sale, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at $6,116,398.40. The trade was a 33.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by corporate insiders.

Quanta Services Price Performance

PWR stock opened at $686.73 on Friday. The firm has a 50 day simple moving average of $702.52 and a two-hundred day simple moving average of $574.40. Quanta Services, Inc. has a one year low of $363.01 and a one year 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 cap of $103.05 billion, a PE ratio of 94.20, a P/E/G ratio of 2.83 and a beta of 1.20.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.64. The firm 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 for the quarter was up 26.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, analysts predict that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 6.04%.

Quanta Services announced that its Board of Directors has approved a share repurchase program on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership 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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