Amundi Sells 29,379 Shares of Quanta Services, Inc. $PWR

Key Points

• Amundi reduced its Quanta Services stake by 5.1%, selling 29,379 shares in the second quarter and retaining 551,339 shares valued at approximately $397 million. Institutional investors collectively own 90.49% of PWR.
• Quanta Services reported strong quarterly results, with EPS of $4.24 versus the $3.31 consensus and revenue of $9.56 billion, up 41.1% year over year. The company also authorized a $1 billion share-repurchase program.
• Analysts maintain a generally positive outlook, giving Quanta a “Moderate Buy” consensus rating and an average price target of $769.25, compared with shares trading at $623.80.

Amundi cut its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 551,339 shares of the construction company's stock after selling 29,379 shares during the period. Amundi owned about 0.37% of Quanta Services worth $396,986,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PWR. Wellington Grp LLC lifted its holdings in Quanta Services by 21.8% in the second quarter. Wellington Grp LLC now owns 1,835 shares of the construction company's stock valued at $1,321,000 after acquiring an additional 329 shares during the period. HighTower Advisors LLC boosted its position in Quanta Services by 11.4% in the second quarter. HighTower Advisors LLC now owns 145,627 shares of the construction company's stock worth $104,858,000 after purchasing an additional 14,866 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Quanta Services by 73,333.1% during the 2nd quarter. California State Teachers Retirement System now owns 163,127,222 shares of the construction company's stock valued at $117,458,125,000 after purchasing an additional 162,905,078 shares during the period. Kintra Wealth LLC increased its position in shares of Quanta Services by 141.4% during the 2nd quarter. Kintra Wealth LLC now owns 1,079 shares of the construction company's stock valued at $726,000 after purchasing an additional 632 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of Quanta Services by 0.4% in the 2nd quarter. HB Wealth Management LLC now owns 22,474 shares of the construction company's stock worth $16,183,000 after purchasing an additional 79 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 0.1%

Shares of PWR opened at $623.80 on Tuesday. Quanta Services, Inc. has a fifty-two week low of $363.01 and a fifty-two week high of $788.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.05 and a current ratio of 1.10. The company's fifty day moving average is $650.04 and its 200 day moving average is $644.14. The stock has a market capitalization of $93.78 billion, a PE ratio of 71.45, a P/E/G ratio of 2.05 and a beta of 1.20.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $4.24 EPS for the quarter, topping analysts' consensus estimates of $3.31 by $0.93. The business had revenue of $9.56 billion during the quarter, compared to analysts' expectations of $8.61 billion. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The business's revenue was up 41.1% on a year-over-year basis. During the same period last year, the company posted $2.48 EPS. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 15.35 earnings per share for the current fiscal year.

Quanta Services declared that its board has approved a stock repurchase program on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Thursday, October 1st will be issued a $0.11 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's payout ratio is 5.04%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PWR. Robert W. Baird set a $728.00 price objective on shares of Quanta Services in a report on Friday, July 31st. Sanford C. Bernstein reiterated a "market perform" rating and issued a $748.00 price target on shares of Quanta Services in a research report on Friday, July 31st. Cantor Fitzgerald began coverage on shares of Quanta Services in a research note on Friday, July 31st. They set an "outperform" rating on the stock. Argus set a $800.00 price objective on Quanta Services in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $833.00 target price on shares of Quanta Services in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $769.25.

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.

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