Jennison Associates LLC Has $69.56 Million Position in Quanta Services, Inc. $PWR

Jennison Associates LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.8% during the 1st quarter, HoldingsChannel reports. The firm owned 126,700 shares of the construction company’s stock after selling 1,060 shares during the period. Jennison Associates LLC’s holdings in Quanta Services were worth $69,561,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PWR. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Quanta Services by 9.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,466 shares of the construction company’s stock worth $805,000 after acquiring an additional 122 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in Quanta Services by 2.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company’s stock valued at $282,000 after acquiring an additional 13 shares in the last quarter. Heartland Bank & Trust Co bought a new stake in Quanta Services in the 1st quarter valued at $315,000. Aire Advisors LLC acquired a new position in Quanta Services in the 1st quarter worth $281,000. Finally, Cornerstone Planning Group LLC increased its holdings in Quanta Services by 17.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 130 shares of the construction company’s stock worth $71,000 after purchasing an additional 19 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Down 0.1%

Quanta Services stock opened at $628.11 on Monday. The company has a market cap of $94.25 billion, a price-to-earnings ratio of 86.16, a P/E/G ratio of 2.47 and a beta of 1.21. The firm has a 50-day moving average of $703.48 and a 200-day moving average of $599.42. 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, Inc. has a one year low of $363.01 and a one year 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The business had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the business earned $1.78 earnings per share. Quanta Services’s quarterly revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities analysts expect that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.11 per share. The ex-dividend date was 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 of Directors has initiated a share buyback plan on Friday, May 22nd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PWR shares. Cantor Fitzgerald boosted their price target on Quanta Services from $630.00 to $901.00 and gave the company an “overweight” rating in a report on Monday, May 11th. JPMorgan Chase & Co. increased their price objective on Quanta Services from $627.00 to $805.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Zacks Research lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Stifel Nicolaus set a $784.00 target price on Quanta Services in a research note on Friday, May 1st. Finally, The Goldman Sachs Group upped their price target on Quanta Services from $685.00 to $826.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Nineteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $751.86.

Insider Activity at Quanta Services

In other news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction that occurred 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 owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer owned 16,508 shares in the company, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 159,992 shares of company stock valued at $123,244,714. 0.60% of the stock is currently owned by insiders.

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.