Castleark Management LLC Decreases Stock Position in Quanta Services, Inc. $PWR

Castleark Management LLC cut its stake in Quanta Services, Inc. (NYSE:PWR) by 79.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,380 shares of the construction company’s stock after selling 5,300 shares during the quarter. Castleark Management LLC’s holdings in Quanta Services were worth $758,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Quanta Services by 2.1% in the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock worth $2,619,626,000 after acquiring an additional 126,014 shares during the last quarter. Geode Capital Management LLC grew 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 purchasing an additional 110,360 shares during the last quarter. Victory Capital Management Inc. grew 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 purchasing an additional 758,862 shares during the last quarter. Bank of America Corp DE raised its position 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 during the period. Finally, Norges Bank bought a new stake in Quanta Services in the fourth quarter worth about $817,285,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the company’s 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 sale, the chief accounting officer directly owned 8,080 shares in the company, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the 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 transaction, the chief executive officer directly owned 16,508 shares in the company, valued at $12,722,880.68. The trade was a 61.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by corporate insiders.

Quanta Services Price Performance

Shares of PWR stock opened at $619.98 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. The company has a market capitalization of $93.03 billion, a P/E ratio of 85.05, a P/E/G ratio of 2.46 and a beta of 1.21. The company’s 50-day simple moving average is $687.90 and its two-hundred day simple moving average is $608.07. Quanta Services, Inc. has a one year low of $363.01 and a one year high of $788.75.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.64. The business had revenue of $7.87 billion for 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 company’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period last year, the company posted $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, equities analysts anticipate that Quanta Services, Inc. will post 12.8 EPS for the current year.

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

Quanta Services Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on PWR. Robert W. Baird boosted their target price on Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Truist Financial increased their price target on Quanta Services from $851.00 to $940.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Weiss Ratings cut Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, July 20th. Sanford C. Bernstein upped their price objective on Quanta Services from $538.00 to $725.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. Finally, TD Cowen increased their target price on Quanta Services from $570.00 to $775.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Seventeen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $745.55.

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.