Quanta Services, Inc. $PWR Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. cut its position in Quanta Services, Inc. (NYSE:PWR) by 7.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,325 shares of the construction company’s stock after selling 900 shares during the quarter. Meyer Handelman Co.’s holdings in Quanta Services were worth $6,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its position in Quanta Services by 2.1% in the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock valued at $2,619,626,000 after acquiring an additional 126,014 shares during the period. Geode Capital Management LLC grew its stake in shares of Quanta Services by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock worth $1,718,371,000 after purchasing an additional 110,360 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Quanta Services by 35.6% in the third quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock worth $1,208,672,000 after purchasing an additional 765,822 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Quanta Services by 35.2% during 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 during the period. Finally, Norges Bank bought a new stake in shares of Quanta Services during the fourth quarter valued at about $817,285,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $718.77 on Friday. Quanta Services, Inc. has a 52 week low of $363.01 and a 52 week high of $788.75. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. The stock has a market cap of $107.86 billion, a PE ratio of 98.60, a price-to-earnings-growth ratio of 2.76 and a beta of 1.20. The company’s 50-day moving average price is $700.61 and its two-hundred day moving average price is $573.61.

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

Quanta Services declared that its board has authorized a share buyback plan 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 plans are often a sign that the company’s leadership believes its stock is undervalued.

Quanta Services Dividend Announcement

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

Insider Activity at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the sale, the chief executive officer directly owned 556,911 shares of the company’s stock, valued at $429,183,462.15. This trade represents a 18.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction 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 transaction, the chief accounting officer owned 8,080 shares in the company, valued at $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, May 4th. The Goldman Sachs Group upped their price target on shares of Quanta Services from $685.00 to $826.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Truist Financial set a $851.00 price objective on shares of Quanta Services in a report on Friday, May 1st. Cantor Fitzgerald raised their price objective on shares of Quanta Services from $630.00 to $901.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Sanford C. Bernstein boosted their target price on Quanta Services from $538.00 to $725.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $733.87.

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.