Allspring Global Investments Holdings LLC Has $199.64 Million Stock Holdings in Quanta Services, Inc. $PWR

Allspring Global Investments Holdings LLC decreased its position in Quanta Services, Inc. (NYSE:PWR) by 15.8% during the 1st quarter, Holdings Channel reports. The firm owned 356,418 shares of the construction company’s stock after selling 66,824 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Quanta Services were worth $199,637,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its position in Quanta Services by 321.4% in the fourth quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock valued at $25,000 after buying an additional 45 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Quanta Services during the second quarter worth approximately $26,000. Flagship Harbor Advisors LLC bought a new position in shares of Quanta Services in the fourth quarter valued at approximately $28,000. MV Capital Management Inc. acquired a new position in shares of Quanta Services in the 4th quarter worth approximately $30,000. Finally, Meeder Asset Management Inc. grew its position in Quanta Services by 221.7% during the 4th quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock worth $31,000 after acquiring an additional 51 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PWR. UBS Group lifted their price objective on Quanta Services from $646.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, May 4th. BMO Capital Markets increased their target price on Quanta Services from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on Quanta Services from $627.00 to $805.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Jefferies Financial Group reduced their price target on shares of Quanta Services from $857.00 to $784.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Finally, The Goldman Sachs Group increased their price objective on shares of Quanta Services from $685.00 to $826.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Nineteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $751.86.

Quanta Services Price Performance

Quanta Services stock opened at $630.09 on Friday. The business’s 50-day simple moving average is $705.81 and its 200 day simple moving average is $598.03. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The stock has a market cap of $94.55 billion, a price-to-earnings ratio of 86.43, a P/E/G ratio of 2.55 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 quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the business posted $1.78 EPS. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 12.8 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Wednesday, July 1st were paid 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 payout ratio is 6.04%.

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

Insider Activity at Quanta Services

In other Quanta Services 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 value of $100,184,500.00. Following the transaction, the chief executive officer directly owned 556,911 shares of the company’s stock, valued at approximately $429,183,462.15. This trade represents a 18.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction on Monday, May 4th. The stock was sold at an average price of $756.98, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,992 shares of company stock worth $123,244,714 over the last 90 days. 0.60% of the stock is currently owned by company 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.