Weiss Asset Management LP Invests $4.81 Million in Quanta Services, Inc. $PWR

Weiss Asset Management LP purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the first quarter, Holdings Channel reports. The firm purchased 8,760 shares of the construction company’s stock, valued at approximately $4,809,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Quanta Services in the 4th quarter worth approximately $817,285,000. Victory Capital Management Inc. grew 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 valued at $1,230,493,000 after purchasing an additional 758,862 shares in the last quarter. Corient Private Wealth LLC increased its holdings 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 valued at $486,065,000 after purchasing an additional 667,050 shares during the last quarter. Sands Capital Management LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $243,485,000. Finally, Select Equity Group L.P. lifted its position in Quanta Services by 69.3% during the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock worth $384,554,000 after buying an additional 416,395 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Paul Nobel sold 4,000 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $756.98, for a total transaction 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 $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total value of $100,184,500.00. Following the completion of the transaction, the chief executive officer directly owned 556,911 shares of the company’s stock, valued at approximately $429,183,462.15. This represents a 18.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,992 shares of company stock worth $123,244,714 over the last 90 days. 0.60% of the stock is owned by insiders.

Quanta Services Price Performance

NYSE:PWR opened at $626.03 on Monday. Quanta Services, Inc. has a 52 week low of $363.01 and a 52 week high of $788.75. The stock’s fifty day moving average is $689.96 and its two-hundred day moving average is $606.79. The company has a market capitalization of $93.94 billion, a P/E ratio of 85.88, a P/E/G ratio of 2.46 and a beta of 1.21. 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 (NYSE:PWR) last released 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 business had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the business posted $1.78 EPS. The company’s revenue was up 26.3% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities analysts expect that Quanta Services, Inc. will post 12.8 EPS for the current year.

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

Quanta Services Announces Dividend

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

Analyst Ratings Changes

Several analysts have issued reports on PWR shares. Cantor Fitzgerald upped their target price on Quanta Services from $630.00 to $901.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Evercore boosted their price target on shares of Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Stifel Nicolaus set a $784.00 price objective on shares of Quanta Services in a report on Friday, May 1st. Truist Financial raised their price objective on shares of Quanta Services from $851.00 to $940.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $745.55.

Quanta Services Company 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.