Norges Bank Takes Position in Quanta Services, Inc. $PWR

Norges Bank bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,936,420 shares of the construction company’s stock, valued at approximately $817,285,000.

Other institutional investors have also recently modified their holdings of the company. Lansforsakringar Fondforvaltning AB publ grew its position in shares of Quanta Services by 5.4% during 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 during the period. Evoke Wealth LLC acquired a new stake in Quanta Services in the 4th quarter worth about $368,000. Yahav Achim Ve Achayot Provident Funds Management Co Ltd. acquired a new stake in Quanta Services in the 3rd quarter worth about $1,752,000. Atria Investments Inc boosted 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 worth $5,727,000 after buying an additional 2,340 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted 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 worth $21,357,000 after buying an additional 4,568 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PWR has been the topic of several research analyst reports. Jefferies Financial Group lifted their price objective on Quanta Services from $654.00 to $857.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Mizuho lifted their price objective on Quanta Services from $580.00 to $693.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Wall Street Zen upgraded Quanta Services from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Bank of America lifted their price objective on Quanta Services from $500.00 to $610.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Sanford C. Bernstein lifted their price objective on Quanta Services from $538.00 to $725.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $733.87.

Quanta Services Trading Down 2.7%

PWR opened at $710.34 on Friday. 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 company’s 50 day simple moving average is $647.92 and its two-hundred day simple moving average is $538.51. Quanta Services, Inc. has a 1-year low of $336.57 and a 1-year high of $788.75. The firm has a market capitalization of $106.59 billion, a price-to-earnings ratio of 97.44, a price-to-earnings-growth ratio of 2.44 and a beta of 1.24.

Quanta Services (NYSE:PWR) last released its 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 for the quarter, compared to analyst estimates of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The business’s revenue was up 26.3% on a year-over-year basis. During the same period last year, the company posted $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Analysts expect that Quanta Services, Inc. will post 12.84 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Stockholders 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 payout ratio is presently 6.04%.

Quanta Services announced that its board has approved a stock buyback plan 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 plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Quanta Services

In other news, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction that occurred 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 owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the sale, the chief executive officer directly owned 16,508 shares in the company, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 159,992 shares of company stock worth $123,244,714. Corporate insiders own 0.60% of the company’s stock.

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.