OLD National Bancorp IN Reduces Stock Position in Quanta Services, Inc. $PWR

OLD National Bancorp IN lowered its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 32.7% during the 4th quarter, HoldingsChannel reports. The fund owned 13,901 shares of the construction company’s stock after selling 6,756 shares during the period. OLD National Bancorp IN’s holdings in Quanta Services were worth $5,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PWR. Darwin Wealth Management LLC bought a new position in shares of Quanta Services in the second quarter worth $26,000. Activest Wealth Management increased its holdings in shares of Quanta Services by 94.1% in the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 32 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of Quanta Services in the fourth quarter worth $28,000. Cornerstone Planning Group LLC increased its holdings in shares of Quanta Services by 213.0% in the third quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 49 shares during the period. Finally, GPS Wealth Strategies Group LLC bought a new position in shares of Quanta Services in the third quarter worth $38,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 3.4%

PWR opened at $634.54 on Friday. The company has a market cap of $95.22 billion, a P/E ratio of 93.31, a P/E/G ratio of 2.78 and a beta of 1.10. The business’s 50-day moving average price is $566.91 and its 200-day moving average price is $489.90. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12 month low of $272.00 and a 12 month high of $638.42.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 19th. The construction company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.14. Quanta Services had a return on equity of 18.10% and a net margin of 3.61%.The company had revenue of $7.84 billion during the quarter, compared to analyst estimates of $7.38 billion. During the same quarter in the previous year, the company posted $2.94 EPS. Quanta Services’s revenue for the quarter was up 19.7% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 12.650-13.350 EPS. On average, equities analysts expect that Quanta Services, Inc. will post 11.97 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Thursday, April 2nd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, April 2nd. Quanta Services’s payout ratio is 6.47%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Argus upped their price target on shares of Quanta Services from $540.00 to $650.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. upped their price target on shares of Quanta Services from $515.00 to $627.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Citigroup upped their price target on shares of Quanta Services from $540.00 to $640.00 and gave the stock a “buy” rating in a report on Friday, February 20th. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $600.00 to $650.00 in a report on Friday, March 27th. Finally, The Goldman Sachs Group upped their price target on shares of Quanta Services from $495.00 to $685.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Eighteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $599.00.

Quanta Services Company 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.