QRG Capital Management Inc. Acquires 1,174 Shares of Quanta Services, Inc. $PWR

QRG Capital Management Inc. raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,204 shares of the construction company’s stock after acquiring an additional 1,174 shares during the quarter. QRG Capital Management Inc.’s holdings in Quanta Services were worth $8,347,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PWR. Norges Bank bought a new stake in Quanta Services in the fourth quarter worth $817,285,000. Bank of America Corp DE raised its holdings in Quanta Services by 35.6% during the third 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 buying an additional 765,822 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Quanta Services by 35.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock worth $1,230,493,000 after buying an additional 758,862 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of Quanta Services by 137.6% in the fourth quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company’s stock worth $486,065,000 after buying an additional 667,050 shares during the last quarter. Finally, Sands Capital Management LLC bought a new stake in shares of Quanta Services during the 4th quarter worth about $243,485,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 0.1%

NYSE PWR opened at $667.73 on Friday. Quanta Services, Inc. has a one year low of $363.01 and a one year high of $788.75. The firm has a market cap of $100.20 billion, a PE ratio of 91.60, a price-to-earnings-growth ratio of 2.63 and a beta of 1.21. 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 stock’s 50 day simple moving average is $711.52 and its 200 day simple moving average is $582.63.

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, beating analysts’ consensus estimates of $2.04 by $0.64. The business had revenue of $7.87 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services announced that its Board of Directors has initiated a share repurchase program on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.04%.

Insider Transactions at Quanta Services

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 directly owned 8,080 shares in the company, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the business’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 completion of the sale, the chief executive officer owned 16,508 shares in the company, valued at approximately $12,722,880.68. This trade represents a 61.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PWR shares. Wall Street Zen raised Quanta Services from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. UBS Group upped their target price on Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Stifel Nicolaus set a $784.00 price target on Quanta Services in a report on Friday, May 1st. Sanford C. Bernstein boosted their price objective 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. Finally, CICC Research initiated coverage on Quanta Services in a report on Thursday, May 21st. They issued an “outperform” rating and a $872.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $755.18.

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.