Quanta Services, Inc. (PWR), a provider of infrastructure solutions for the electric and gas utility companies, Friday announced that it has been authorized to repurchase up to $1 billion of its outstanding common stock. Under the existing stock buyback program which expires on June 30, the company has already repurchased 540,788 shares of its outstanding common stock in the open market for a total cost of around $135 million.
Additionally, the company has declared a quarterly cash dividend of $0.11 per share payable on July 13, to stockholders of record as of July 1.
In pre-market activity, PWR shares were trading at $729, up 1.69% on the New York Stock Exchange.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.