Delta Global Management LP Lowers Holdings in Quanta Services, Inc. $PWR

Delta Global Management LP decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 13.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,560 shares of the construction company’s stock after selling 847 shares during the quarter. Delta Global Management LP’s holdings in Quanta Services were worth $2,347,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PWR. Cedar Mountain Advisors LLC boosted its stake 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 buying an additional 45 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Quanta Services in the second quarter worth about $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Quanta Services in the fourth quarter worth about $28,000. Meeder Asset Management Inc. boosted its stake in shares of Quanta Services by 221.7% in the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock worth $31,000 after buying an additional 51 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Quanta Services by 266.7% in the fourth 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.

Wall Street Analyst Weigh In

PWR has been the topic of a number of recent research reports. TD Cowen upped their target price on Quanta Services from $570.00 to $775.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Citigroup upped their price target on Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. upped their price target on Quanta Services from $627.00 to $805.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. The Goldman Sachs Group upped their price target on Quanta Services from $685.00 to $826.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Oppenheimer raised Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 price target for the company in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $733.87.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $723.96 on Tuesday. The business has a 50 day simple moving average of $678.49 and a two-hundred day simple moving average of $559.28. Quanta Services, Inc. has a 12 month low of $353.69 and a 12 month high of $788.75. The stock has a market capitalization of $108.64 billion, a P/E ratio of 99.31, a PEG ratio of 2.78 and a beta of 1.20. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $1.78 earnings per share. The business’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. As a group, analysts predict that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company 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 of this dividend 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 is presently 6.04%.

Quanta Services announced that its Board of Directors has initiated a stock repurchase plan on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, CAO Paul Nobel sold 4,000 shares of the company’s 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 in the company, valued at $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value of $20,032,294.32. Following the completion of the transaction, the chief executive officer 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. The disclosure for this sale is available in the SEC filing. Insiders sold 159,992 shares of company stock valued at $123,244,714 over the last 90 days. Company 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.