Quanta Services, Inc. $PWR Stake Cut by Forum Financial Management LP

Forum Financial Management LP lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 69.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 841 shares of the construction company’s stock after selling 1,945 shares during the quarter. Forum Financial Management LP’s holdings in Quanta Services were worth $462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Brighton Jones LLC bought a new position in shares of Quanta Services in the 4th quarter worth about $298,000. Woodline Partners LP grew its position in shares of Quanta Services by 40.7% during the 1st 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 bought a new stake in shares of Quanta Services during the 2nd quarter valued at about $4,632,000. Marshall Wace LLP acquired a new stake in Quanta Services during the second quarter worth about $996,000. Finally, StoneX Group Inc. bought a new position in Quanta Services in the second quarter worth about $204,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Quanta Services from $627.00 to $805.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. UBS Group increased their price target on Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Jefferies Financial Group boosted their price objective on Quanta Services from $654.00 to $857.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Oppenheimer upgraded Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 price objective for the company in a research note on Thursday, May 28th. Finally, Cantor Fitzgerald increased their target price on Quanta Services from $630.00 to $901.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. One equities research 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $733.87.

Quanta Services Price Performance

NYSE:PWR opened at $720.94 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $707.46 and its 200 day moving average price is $578.82. Quanta Services, Inc. has a 52-week low of $363.01 and a 52-week high of $788.75. The firm has a market cap of $108.18 billion, a P/E ratio of 98.89, a PEG ratio of 2.81 and a beta of 1.20.

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 predict that Quanta Services, Inc. will post 12.81 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be given a $0.11 dividend. 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 6.04%.

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

Insider Buying and Selling at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the 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 owned 556,911 shares in the company, valued at approximately $429,183,462.15. This represents a 18.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Insiders sold 159,992 shares of company stock worth $123,244,714 in the last ninety days. 0.60% of the stock is owned by corporate insiders.

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.