Handelsbanken Fonder AB Lowers Holdings in Quanta Services, Inc. $PWR

Handelsbanken Fonder AB decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 14.4% in the 4th quarter, HoldingsChannel reports. The firm owned 262,463 shares of the construction company’s stock after selling 44,156 shares during the quarter. Handelsbanken Fonder AB’s holdings in Quanta Services were worth $110,775,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. McKinley Carter Wealth Services Inc. boosted its stake in shares of Quanta Services by 5.1% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 19,547 shares of the construction company’s stock valued at $8,250,000 after purchasing an additional 944 shares during the period. Csenge Advisory Group boosted its stake in shares of Quanta Services by 1.8% in the fourth quarter. Csenge Advisory Group now owns 2,049 shares of the construction company’s stock valued at $865,000 after purchasing an additional 37 shares during the period. Integral Investment Advisors Inc. purchased a new position in shares of Quanta Services in the fourth quarter valued at approximately $205,000. ProShare Advisors LLC boosted its stake in shares of Quanta Services by 8.8% in the fourth quarter. ProShare Advisors LLC now owns 27,399 shares of the construction company’s stock valued at $11,564,000 after purchasing an additional 2,205 shares during the period. Finally, Warner Group LLC boosted its stake in shares of Quanta Services by 2.8% in the fourth quarter. Warner Group LLC now owns 874 shares of the construction company’s stock valued at $369,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 6.1%

Shares of Quanta Services stock opened at $723.01 on Tuesday. Quanta Services, Inc. has a 52-week low of $320.56 and a 52-week high of $788.75. The company has a 50 day moving average of $619.54 and a 200 day moving average of $521.74. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $108.49 billion, a P/E ratio of 99.18, a P/E/G ratio of 2.64 and a beta of 1.24.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) 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 company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The firm’s quarterly 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. As a group, research analysts forecast that Quanta Services, Inc. will post 12.84 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is presently 6.04%.

Insider Buying and Selling

In other Quanta Services 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 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 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 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 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 three months, insiders have sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PWR. 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 note on Friday, May 1st. The Goldman Sachs Group raised their price objective on shares of Quanta Services from $685.00 to $826.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Roth Mkm lifted their price target on shares of Quanta Services from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Cantor Fitzgerald lifted their price target on shares of Quanta Services from $630.00 to $901.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, Sanford C. Bernstein lifted their price target on shares of Quanta Services from $538.00 to $725.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $708.05.

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.