Bamco Inc. NY Sells 28,836 Shares of Quanta Services, Inc. $PWR

Bamco Inc. NY decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 8.1% in the fourth quarter, Holdings Channel reports. The fund owned 328,010 shares of the construction company’s stock after selling 28,836 shares during the quarter. Bamco Inc. NY’s holdings in Quanta Services were worth $138,440,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Quanta Services by 2.1% in the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock valued at $2,619,626,000 after acquiring an additional 126,014 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Quanta Services by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock valued at $1,718,371,000 after acquiring an additional 110,360 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 acquiring an additional 765,822 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Quanta Services by 35.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock valued at $1,230,493,000 after acquiring an additional 758,862 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Quanta Services in the 4th quarter valued at about $817,285,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup increased their price target on shares of Quanta Services from $640.00 to $733.00 and gave the company a “buy” rating in a report on Monday, April 27th. Weiss Ratings raised shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. TD Cowen raised their price objective on shares of Quanta Services from $570.00 to $775.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. CICC Research assumed coverage on shares of Quanta Services in a research note on Thursday, May 21st. They issued an “outperform” rating and a $872.00 price objective for the company. Finally, Argus raised their price objective on shares of Quanta Services from $540.00 to $650.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. One research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $733.87.

Insider Buying and Selling

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value of $20,032,294.32. Following the completion of the sale, the chief executive officer owned 16,508 shares in the company, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the completion of the sale, the chief accounting officer 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. The disclosure for this sale is available in the SEC filing. Insiders sold 159,992 shares of company stock valued at $123,244,714 in the last quarter. 0.60% of the stock is owned by company insiders.

Quanta Services Stock Down 0.7%

Shares of NYSE PWR opened at $714.41 on Thursday. 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 has a market cap of $107.20 billion, a P/E ratio of 98.00, a PEG ratio of 2.83 and a beta of 1.20. The firm has a 50-day simple moving average of $684.87 and a two-hundred day simple moving average of $562.90. Quanta Services, Inc. has a 1 year low of $358.27 and a 1 year high of $788.75.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.64. The firm had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.Quanta Services’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Research analysts anticipate that Quanta Services, Inc. will post 12.81 earnings per share for the current year.

Quanta Services Announces Dividend

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

Quanta Services declared 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 reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.