Fifth Third Bancorp Acquires 31,969 Shares of Quanta Services, Inc. $PWR

Fifth Third Bancorp grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 500.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,355 shares of the construction company’s stock after purchasing an additional 31,969 shares during the quarter. Fifth Third Bancorp’s holdings in Quanta Services were worth $21,058,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PWR. Lewis Asset Management LLC lifted its holdings in Quanta Services by 2.5% during the first quarter. Lewis Asset Management LLC now owns 692 shares of the construction company’s stock worth $380,000 after buying an additional 17 shares during the period. Stiles Financial Services Inc lifted its stake in shares of Quanta Services by 1.8% during the 1st quarter. Stiles Financial Services Inc now owns 987 shares of the construction company’s stock worth $542,000 after purchasing an additional 17 shares during the last quarter. Arete Wealth Advisors LLC boosted its position in Quanta Services by 2.2% during the fourth quarter. Arete Wealth Advisors LLC now owns 917 shares of the construction company’s stock valued at $387,000 after purchasing an additional 20 shares in the last quarter. Quantum Portfolio Management LLC boosted its position in Quanta Services by 2.2% during the fourth quarter. Quantum Portfolio Management LLC now owns 946 shares of the construction company’s stock valued at $399,000 after purchasing an additional 20 shares in the last quarter. Finally, Icon Wealth Advisors LLC grew its stake in Quanta Services by 1.2% in the fourth quarter. Icon Wealth Advisors LLC now owns 1,733 shares of the construction company’s stock valued at $731,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the sale, the chief executive officer owned 556,911 shares of the company’s stock, valued at $429,183,462.15. This trade represents a 18.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Paul Nobel sold 4,000 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the completion of the transaction, the chief accounting officer owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is owned by company insiders.

Quanta Services Trading Down 1.8%

Shares of Quanta Services stock opened at $646.72 on Tuesday. The stock has a market cap of $97.05 billion, a PE ratio of 88.71, a price-to-earnings-growth ratio of 2.59 and a beta of 1.21. The firm has a fifty day moving average price of $713.16 and a 200 day moving average price of $593.52. Quanta Services, Inc. has a 1 year low of $363.01 and a 1 year high of $788.75. 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 posted its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.04 by $0.64. The company 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 firm’s revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities research analysts predict that Quanta Services, Inc. will post 12.8 earnings per share for the current year.

Quanta Services announced that its board has initiated a stock repurchase program on Friday, May 22nd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Quanta Services Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is 6.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PWR shares. CICC Research started coverage on Quanta Services in a research note on Thursday, May 21st. They issued an “outperform” rating and a $872.00 price target for the company. Mizuho boosted their price objective on shares of Quanta Services from $580.00 to $693.00 and gave the company a “neutral” rating in a report on Friday, May 1st. The Goldman Sachs Group upped their target price on Quanta Services from $685.00 to $826.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Zacks Research lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Roth Capital boosted their price target on Quanta Services from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Nineteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $751.86.

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.