CIBC Asset Management Inc Has $14.80 Million Stake in Quanta Services, Inc. $PWR

CIBC Asset Management Inc raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 71.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,056 shares of the construction company’s stock after purchasing an additional 14,665 shares during the quarter. CIBC Asset Management Inc’s holdings in Quanta Services were worth $14,796,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Marble Wealth LLC bought a new position in shares of Quanta Services in the fourth quarter worth about $1,313,000. M.D. Sass LLC grew its stake in shares of Quanta Services by 0.7% during the fourth quarter. M.D. Sass LLC now owns 91,663 shares of the construction company’s stock valued at $38,687,000 after purchasing an additional 617 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Quanta Services by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 918,661 shares of the construction company’s stock valued at $387,730,000 after purchasing an additional 8,156 shares in the last quarter. Bridges Investment Management Inc. raised its position in Quanta Services by 14.2% in the 4th quarter. Bridges Investment Management Inc. now owns 2,127 shares of the construction company’s stock worth $898,000 after purchasing an additional 265 shares during the last quarter. Finally, Greenwich Wealth Management LLC bought a new position in Quanta Services in the 4th quarter worth approximately $232,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of recent research reports. Evercore increased their price objective on Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. CICC Research initiated coverage on Quanta Services in a research note on Thursday, May 21st. They set an “outperform” rating and a $872.00 price target on the stock. Jefferies Financial Group raised their price target on Quanta Services from $654.00 to $857.00 and gave the company a “buy” rating in a report on Monday, May 4th. Truist Financial set a $851.00 price objective on Quanta Services in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $627.00 to $805.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $733.87.

Insider Activity

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 556,911 shares of the company’s stock, valued at $429,183,462.15. This trade represents a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the transaction, the chief accounting officer owned 8,080 shares in the company, valued at $6,116,398.40. This trade represents a 33.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 159,992 shares of company stock worth $123,244,714. Corporate insiders own 0.60% of the company’s stock.

Quanta Services Stock Up 0.4%

Shares of NYSE PWR opened at $718.32 on Friday. Quanta Services, Inc. has a 52-week low of $341.93 and a 52-week high of $788.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. The stock has a market cap of $107.79 billion, a P/E ratio of 98.53, a P/E/G ratio of 2.82 and a beta of 1.20. The firm has a 50 day moving average price of $658.94 and a 200 day moving average price of $546.71.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the business posted $1.78 earnings per share. The business’s revenue for the quarter 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. Analysts expect that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services Announces Dividend

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

Quanta Services declared that its board has authorized a stock 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 typically a sign that the company’s leadership believes its shares are 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.