Alkeon Capital Management LLC Lowers Position in Quanta Services, Inc. $PWR

Alkeon Capital Management LLC decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 28.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 500,983 shares of the construction company’s stock after selling 200,000 shares during the period. Alkeon Capital Management LLC’s holdings in Quanta Services were worth $211,445,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Cedar Mountain Advisors LLC grew its holdings in shares of Quanta Services by 321.4% in the fourth quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock worth $25,000 after purchasing an additional 45 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Quanta Services in the 2nd quarter valued at about $26,000. Flagship Harbor Advisors LLC acquired a new stake in Quanta Services in the 4th quarter worth approximately $28,000. Meeder Asset Management Inc. boosted its stake in Quanta Services by 221.7% in the 4th quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock worth $31,000 after purchasing an additional 51 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in Quanta Services by 266.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 77 shares of the construction company’s stock worth $32,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PWR shares. Zacks Research raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Oppenheimer raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 target price on the stock in a research report on Thursday, May 28th. Truist Financial set a $851.00 price target on shares of Quanta Services in a research note on Friday, May 1st. Finally, Evercore boosted their price target on shares of Quanta Services from $635.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $733.87.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $723.96 on Tuesday. The firm has a market capitalization of $108.64 billion, a P/E ratio of 99.31, a P/E/G ratio of 2.78 and a beta of 1.20. Quanta Services, Inc. has a 52 week low of $353.69 and a 52 week high of $788.75. 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 firm’s 50 day moving average is $678.49 and its two-hundred day moving average is $559.28.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.04 by $0.64. The company had revenue of $7.87 billion for 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%. The firm’s revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Research analysts forecast that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st will be issued 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 is Wednesday, July 1st. Quanta Services’s dividend payout ratio is presently 6.04%.

Quanta Services declared that its Board of Directors has initiated a stock repurchase plan on Friday, May 22nd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Quanta Services

In other news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a legal 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 stock in a transaction that occurred on 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,992 shares of company stock valued at $123,244,714 over the last three months. Corporate insiders own 0.60% of the company’s stock.

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.