Corient Private Wealth LLC Acquires 667,050 Shares of Quanta Services, Inc. $PWR

Corient Private Wealth LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 137.6% in the 4th quarter, HoldingsChannel reports. The firm owned 1,151,650 shares of the construction company’s stock after acquiring an additional 667,050 shares during the period. Quanta Services makes up approximately 0.6% of Corient Private Wealth LLC’s holdings, making the stock its 24th largest holding. Corient Private Wealth LLC’s holdings in Quanta Services were worth $486,065,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its stake in Quanta Services by 35.0% in the fourth quarter. Hsbc Holdings PLC now owns 393,854 shares of the construction company’s stock valued at $166,506,000 after buying an additional 102,119 shares during the period. Mengis Capital Management Inc. boosted its holdings in shares of Quanta Services by 5.6% during the 4th quarter. Mengis Capital Management Inc. now owns 28,740 shares of the construction company’s stock worth $12,130,000 after buying an additional 1,515 shares in the last quarter. Employees Provident Fund Board acquired a new stake in shares of Quanta Services during the 4th quarter worth approximately $31,232,000. WMS Group LLC bought a new stake in shares of Quanta Services in the 4th quarter valued at $749,000. Finally, Reflection Asset Management bought a new stake in shares of Quanta Services in the 4th quarter valued at $89,000. 90.49% of the stock is currently owned by institutional investors.

Insider Activity at Quanta Services

In other news, 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 sale, the chief executive officer directly owned 16,508 shares of the company’s stock, valued at $12,722,880.68. This represents a 61.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer owned 8,080 shares in the company, valued at $6,116,398.40. This represents a 33.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 159,992 shares of company stock valued at $123,244,714. Company insiders own 0.60% of the company’s stock.

Quanta Services Stock Up 0.3%

Shares of NYSE PWR opened at $704.35 on Friday. The stock has a market capitalization of $105.70 billion, a P/E ratio of 96.62, a P/E/G ratio of 2.76 and a beta of 1.20. The company has a 50-day moving average price of $690.42 and a 200-day moving average price of $565.56. Quanta Services, Inc. has a 1 year low of $358.38 and a 1 year high of $788.75. 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 posted its earnings results on Thursday, April 30th. The construction company reported $2.68 EPS 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 during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities research analysts forecast that Quanta Services, Inc. will post 12.81 EPS for the current fiscal year.

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

Quanta Services Announces Dividend

The business also recently disclosed 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. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 1st. Quanta Services’s payout ratio is currently 6.04%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Robert W. Baird increased their target price on shares of Quanta Services from $606.00 to $777.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Zacks Research raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. Oppenheimer upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 price objective on the stock in a report on Thursday, May 28th. Sanford C. Bernstein increased their price objective on shares of Quanta Services from $538.00 to $725.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 5th. Finally, Stifel Nicolaus set a $784.00 target price on Quanta Services in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price 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.