Quanta Services, Inc. $PWR Shares Purchased by Legal & General Group Plc

Legal & General Group Plc increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 860,812 shares of the construction company’s stock after purchasing an additional 27,978 shares during the quarter. Legal & General Group Plc’s holdings in Quanta Services were worth $363,314,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SLT Holdings LLC acquired a new stake in Quanta Services during the 4th quarter worth approximately $251,000. Glenview Trust Co grew its position in Quanta Services by 11.4% in the fourth quarter. Glenview Trust Co now owns 16,460 shares of the construction company’s stock valued at $6,947,000 after acquiring an additional 1,687 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $191,000. Atticus Wealth Management LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $201,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Quanta Services in the fourth quarter valued at approximately $1,760,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling

In other news, CAO Paul Nobel sold 4,000 shares of the firm’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 transaction 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 approximately $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’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 transaction of $20,032,294.32. Following the sale, the chief executive officer directly owned 16,508 shares of the company’s stock, valued at $12,722,880.68. The trade was a 61.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,992 shares of company stock valued at $123,244,714 in the last three months. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PWR. Evercore increased their price objective on shares of Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Sanford C. Bernstein increased their price objective on shares of Quanta Services from $538.00 to $725.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. Truist Financial set a $851.00 price objective on shares of Quanta Services in a research report on Friday, May 1st. Robert W. Baird increased their price objective on shares of Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, CICC Research began coverage on shares of Quanta Services in a research report on Thursday, May 21st. They issued an “outperform” rating and a $872.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $730.86.

Quanta Services Stock Up 2.7%

PWR stock opened at $743.18 on Wednesday. Quanta Services, Inc. has a twelve month low of $336.57 and a twelve month high of $788.75. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $111.52 billion, a P/E ratio of 101.95, a PEG ratio of 2.48 and a beta of 1.24. The firm has a 50 day simple moving average of $638.82 and a 200-day simple moving average of $533.25.

Quanta Services (NYSE:PWR) 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. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The business had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter last year, the company earned $1.78 earnings per share. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities research analysts predict that Quanta Services, Inc. will post 12.84 earnings per share for the current fiscal year.

Quanta Services declared that its Board of Directors 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 purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Quanta Services Dividend Announcement

The business 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. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is presently 6.04%.

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.