Munro Partners Sells 2,090 Shares of Quanta Services, Inc. $PWR

Munro Partners reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 76,322 shares of the construction company’s stock after selling 2,090 shares during the quarter. Munro Partners’ holdings in Quanta Services were worth $32,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Quanta Services by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company’s stock valued at $7,519,079,000 after buying an additional 386,937 shares during the last quarter. State Street Corp raised its holdings in Quanta Services by 2.1% during the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock valued at $2,619,626,000 after buying an additional 126,014 shares during the last quarter. Geode Capital Management LLC raised 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 valued at $1,718,371,000 after buying an additional 110,360 shares during the last quarter. Bank of America Corp DE raised its holdings in Quanta Services by 35.6% during the 3rd quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock valued at $1,208,672,000 after buying an additional 765,822 shares during the last quarter. Finally, Victory Capital Management Inc. raised 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 valued at $1,230,493,000 after buying an additional 758,862 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on PWR. Citigroup upped their price target on shares of Quanta Services from $640.00 to $733.00 and gave the company a “buy” rating in a report on Monday, April 27th. Evercore boosted their price objective on shares of Quanta Services from $635.00 to $800.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Oppenheimer raised 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 research report on Thursday, May 28th. UBS Group boosted their price objective on shares of Quanta Services from $646.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Truist Financial set a $851.00 price objective on shares of Quanta Services in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $733.87.

Quanta Services Stock Up 2.3%

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

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.64. The firm had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company’s revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Research analysts anticipate that Quanta Services, Inc. will post 12.81 EPS for the current year.

Quanta Services Dividend Announcement

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

Quanta Services announced that its board 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 repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Quanta Services

In other news, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction dated 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 sale, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the completion of the sale, the chief executive officer directly owned 16,508 shares in the company, valued at $12,722,880.68. This represents a 61.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 159,992 shares of company stock worth $123,244,714 over the last ninety days. Insiders own 0.60% of the company’s stock.

About Quanta Services

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.