Quanta Services (NYSE:PWR) Board of Directors Initiates Share Repurchase Plan

Quanta Services (NYSE:PWR) announced that its board has initiated a share repurchase plan on Friday, May 22nd, RTT News reports. The company plans to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent research reports. Cantor Fitzgerald increased their price objective on Quanta Services from $630.00 to $901.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. BNP Paribas Exane initiated coverage on Quanta Services in a research report on Tuesday, April 14th. They set a “neutral” rating on the stock. Mizuho raised their price objective on shares of Quanta Services from $580.00 to $693.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Robert W. Baird boosted their price objective on shares of Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group upped their target price on shares of Quanta Services from $654.00 to $857.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $715.17.

Quanta Services Price Performance

Shares of NYSE:PWR traded up $5.69 on Friday, hitting $722.60. The company’s stock had a trading volume of 774,747 shares, compared to its average volume of 1,329,692. The company has a market capitalization of $108.43 billion, a PE ratio of 99.12, a PEG ratio of 2.46 and a beta of 1.24. 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 50-day simple moving average of $632.01 and a 200 day simple moving average of $528.65. Quanta Services has a 1 year low of $326.89 and a 1 year high of $788.75.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.64. The company had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. Quanta Services’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 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Sell-side analysts forecast that Quanta Services will post 12.84 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Insider Activity

In other news, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $756.98, for a total value of $3,027,920.00. Following the completion of the transaction, the chief accounting officer directly owned 8,080 shares in the company, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total value of $20,032,294.32. Following the transaction, the chief executive officer directly owned 16,508 shares in the company, valued at approximately $12,722,880.68. This represents a 61.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 159,992 shares of company stock valued at $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.