Principal Financial Group Inc. Grows Stake in Quanta Services, Inc. $PWR

Principal Financial Group Inc. grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,935 shares of the construction company’s stock after acquiring an additional 3,854 shares during the quarter. Principal Financial Group Inc.’s holdings in Quanta Services were worth $94,945,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PWR. Norges Bank bought a new stake in Quanta Services during the 4th quarter valued at about $817,285,000. Victory Capital Management Inc. lifted its stake in shares of Quanta Services by 35.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock worth $1,230,493,000 after buying an additional 758,862 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Quanta Services by 137.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company’s stock valued at $486,065,000 after buying an additional 667,050 shares during the last quarter. Sands Capital Management LLC purchased a new stake in shares of Quanta Services during the fourth quarter valued at approximately $243,485,000. Finally, Select Equity Group L.P. increased its position in shares of Quanta Services by 69.3% during the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock valued at $384,554,000 after acquiring an additional 416,395 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

PWR opened at $648.82 on Thursday. The company’s 50 day moving average is $708.21 and its 200 day moving average is $596.64. 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 has a market cap of $97.36 billion, a price-to-earnings ratio of 89.00, a PEG ratio of 2.60 and a beta of 1.21. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75.

Quanta Services (NYSE:PWR) last announced 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. The business had revenue of $7.87 billion during the quarter, compared to analysts’ expectations 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. On average, equities research analysts predict that Quanta Services, Inc. will post 12.8 EPS for the current year.

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 $0.11 dividend. This represents a $0.44 dividend on an annualized basis 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 currently 6.04%.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PWR. Truist Financial upped their price objective on Quanta Services from $851.00 to $940.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Stifel Nicolaus set a $784.00 price target on Quanta Services in a research note on Friday, May 1st. The Goldman Sachs Group upped their price target on Quanta Services from $685.00 to $826.00 and gave the company a “buy” rating in a report on Monday, May 4th. Wall Street Zen raised Quanta Services from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Jefferies Financial Group decreased their target price on Quanta Services from $857.00 to $784.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Nineteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $751.86.

Insider Buying and Selling at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated 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 transaction, the chief executive officer directly owned 556,911 shares of the company’s stock, valued at $429,183,462.15. The trade was a 18.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 159,992 shares of company stock worth $123,244,714 over the last quarter. 0.60% of the stock is owned by company 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.