Hsbc Holdings PLC Reduces Stake in Quanta Services, Inc. $PWR

Hsbc Holdings PLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 389,044 shares of the construction company’s stock after selling 3,510 shares during the quarter. Hsbc Holdings PLC’s holdings in Quanta Services were worth $213,336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PWR. State Street Corp lifted its holdings in shares of Quanta Services by 2.1% in the fourth quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock worth $2,619,626,000 after buying an additional 126,014 shares in the last quarter. Geode Capital Management LLC increased its holdings in Quanta Services by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock worth $1,718,371,000 after acquiring an additional 110,360 shares during the period. Victory Capital Management Inc. increased its holdings in Quanta Services by 35.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock worth $1,230,493,000 after acquiring an additional 758,862 shares during the period. Bank of America Corp DE lifted its stake in Quanta Services by 4.9% in the 2nd quarter. Bank of America Corp DE now owns 2,150,718 shares of the construction company’s stock worth $813,144,000 after purchasing an additional 99,782 shares in the last quarter. Finally, Norges Bank bought a new position in Quanta Services in the 4th quarter valued at $817,285,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

NYSE PWR opened at $628.11 on Friday. Quanta Services, Inc. has a 52-week low of $363.01 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 company has a market capitalization of $94.25 billion, a P/E ratio of 86.16, a P/E/G ratio of 2.47 and a beta of 1.21. The company has a fifty day moving average of $703.48 and a 200-day moving average of $598.24.

Quanta Services (NYSE:PWR) last released 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 for 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 firm’s revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, equities research analysts predict that Quanta Services, Inc. will post 12.8 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Wednesday, July 1st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.04%.

Quanta Services declared that its Board of Directors has approved a share repurchase 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 reacquire up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on PWR. BMO Capital Markets upped their price target on shares of Quanta Services from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. UBS Group boosted their target price on Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Mizuho upped their target price on Quanta Services from $580.00 to $693.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Robert W. Baird raised their price target on Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Finally, Roth Capital lifted their price target on Quanta Services from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $751.86.

Insider Transactions at Quanta Services

In related news, CAO Paul Nobel sold 4,000 shares of the business’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 owned 8,080 shares in the company, valued at $6,116,398.40. The trade was a 33.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total value of $100,184,500.00. Following the completion of the sale, the chief executive officer directly owned 556,911 shares of the company’s stock, valued at approximately $429,183,462.15. This represents a 18.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is currently 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.