SEB Asset Management AB Buys New Position in Quanta Services, Inc. $PWR

SEB Asset Management AB bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 31,837 shares of the construction company’s stock, valued at approximately $17,479,000.

A number of other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC bought a new stake in Quanta Services during the fourth quarter worth approximately $298,000. Woodline Partners LP increased its position in shares of Quanta Services by 40.7% during the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after purchasing an additional 3,606 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Quanta Services during the 2nd quarter valued at $4,632,000. Marshall Wace LLP bought a new stake in shares of Quanta Services in the 2nd quarter worth $996,000. Finally, StoneX Group Inc. acquired a new stake in shares of Quanta Services in the second quarter valued at $204,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Paul Nobel sold 4,000 shares of the 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 sale, the chief accounting officer directly owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total value of $100,184,500.00. Following the sale, the chief executive officer owned 556,911 shares of the company’s stock, valued at $429,183,462.15. The trade was a 18.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,992 shares of company stock worth $123,244,714 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Sanford C. Bernstein lifted their target price on Quanta Services from $538.00 to $725.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. TD Cowen upped their price target on shares of Quanta Services from $570.00 to $775.00 and gave the company a “buy” rating in a report on Monday, May 4th. Oppenheimer upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 price objective for the company in a research report on Thursday, May 28th. Evercore boosted their target price on shares of Quanta Services from $635.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Truist Financial increased their target price on shares of Quanta Services from $851.00 to $940.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Nineteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $749.68.

Quanta Services Trading Up 0.7%

Shares of NYSE PWR opened at $633.11 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a 12 month low of $363.01 and a 12 month high of $788.75. The company has a market cap of $95.00 billion, a price-to-earnings ratio of 86.85, a P/E/G ratio of 2.47 and a beta of 1.21. The business has a fifty day simple moving average of $700.55 and a 200-day simple moving average of $600.86.

Quanta Services (NYSE:PWR) last issued 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 return on equity of 18.64% and a net margin of 3.67%.The firm had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the business posted $1.78 EPS. Quanta Services’s revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Sell-side analysts predict that Quanta Services, Inc. will post 12.8 EPS for the current year.

Quanta Services announced that its board has approved a stock repurchase program on Friday, May 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is 6.04%.

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.