Mcrae Capital Management Inc. Sells 5,630 Shares of Quanta Services, Inc. $PWR

Mcrae Capital Management Inc. decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,674 shares of the construction company’s stock after selling 5,630 shares during the period. Quanta Services comprises approximately 3.3% of Mcrae Capital Management Inc.’s holdings, making the stock its 12th largest position. Mcrae Capital Management Inc.’s holdings in Quanta Services were worth $16,323,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in Quanta Services in the 4th quarter worth $298,000. Woodline Partners LP increased its stake in Quanta Services by 40.7% in the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock worth $3,170,000 after buying an additional 3,606 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Quanta Services in the 2nd quarter worth $4,632,000. Marshall Wace LLP purchased a new stake in Quanta Services in the 2nd quarter worth $996,000. Finally, StoneX Group Inc. purchased a new stake in Quanta Services in the 2nd quarter worth $204,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Jefferies Financial Group increased their price target on Quanta Services from $654.00 to $857.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. UBS Group increased their price target on Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Evercore increased their price target on Quanta Services from $635.00 to $800.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Zacks Research upgraded Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. Finally, Stifel Nicolaus set a $784.00 price objective on shares of Quanta Services in a report 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. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $733.87.

Insider Transactions at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services 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 completion of the transaction, the chief executive officer owned 556,911 shares in the company, valued at approximately $429,183,462.15. This trade represents a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services 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 transaction, the chief accounting officer 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is owned by insiders.

Quanta Services Trading Up 1.6%

Shares of Quanta Services stock opened at $717.39 on Thursday. The firm has a market cap of $107.65 billion, a price-to-earnings ratio of 98.41, a PEG ratio of 2.78 and a beta of 1.20. The business has a 50-day moving average price of $656.14 and a 200-day moving average price of $544.67. 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 twelve month low of $341.93 and a twelve month high of $788.75.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data 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 firm had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The business’s quarterly revenue 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. Equities research analysts anticipate that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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 given a dividend of $0.11 per share. The ex-dividend date is Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is presently 6.04%.

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

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.