Sterling Capital Management LLC Sells 2,027 Shares of Quanta Services, Inc. $PWR

Sterling Capital Management LLC decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 25.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,907 shares of the construction company’s stock after selling 2,027 shares during the period. Sterling Capital Management LLC’s holdings in Quanta Services were worth $3,243,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new stake in Quanta Services in the fourth quarter worth $298,000. Woodline Partners LP grew its stake in shares of Quanta Services by 40.7% during the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after buying an additional 3,606 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Quanta Services in the second quarter worth about $4,632,000. Marshall Wace LLP bought a new stake in shares of Quanta Services in the 2nd quarter valued at about $996,000. Finally, StoneX Group Inc. bought a new stake in shares of Quanta Services in the 2nd quarter valued at about $204,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the topic of several recent research reports. BNP Paribas Exane started coverage on Quanta Services in a research report on Tuesday, April 14th. They set a “neutral” rating on the stock. Evercore increased their price objective on Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Robert W. Baird raised their target price on shares of Quanta Services from $606.00 to $777.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Stifel Nicolaus set a $784.00 target price on shares of Quanta Services in a research note on Friday, May 1st. Finally, BMO Capital Markets upped their price target on shares of Quanta Services from $650.00 to $800.00 and gave the company an “outperform” rating in a report 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $733.87.

Quanta Services Price Performance

Shares of NYSE PWR opened at $686.73 on Monday. Quanta Services, Inc. has a 1 year low of $363.01 and a 1 year high of $788.75. The stock has a market capitalization of $103.05 billion, a P/E ratio of 94.20, a P/E/G ratio of 2.71 and a beta of 1.20. The company’s 50-day moving average is $702.52 and its 200 day moving average is $575.19. 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 issued its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.04 by $0.64. The business 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%. Quanta Services’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period last year, the business posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, sell-side analysts expect that Quanta Services, Inc. will post 12.81 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors 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 annualized dividend and a dividend yield of 0.1%. Quanta Services’s payout ratio is currently 6.04%.

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

Insider Buying and Selling at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of the company’s stock in a transaction 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 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 Securities & Exchange Commission, which is available at this link. Also, CAO Paul Nobel sold 4,000 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer directly owned 8,080 shares of the company’s stock, 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 ninety days, insiders sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is owned by insiders.

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.