Baird Financial Group Inc. Decreases Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Baird Financial Group reduced its Quanta Services stake by 41.4% in the second quarter, selling 37,316 shares and retaining 52,911 shares valued at approximately $38.1 million. Institutional investors and hedge funds collectively own 90.49% of the company.
• Quanta Services reported a strong quarter, with EPS of $4.24 versus estimates of $3.31 and revenue of $9.56 billion versus expectations of $8.61 billion. Revenue increased 41.1% year over year, and the company authorized a $1 billion share-repurchase program.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus rating and an average price target of $767.72, despite shares trading down 1.3% at $618.90. The company also declared a quarterly dividend of $0.11 per share.

Baird Financial Group Inc. lowered its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 41.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 52,911 shares of the construction company's stock after selling 37,316 shares during the quarter. Baird Financial Group Inc.'s holdings in Quanta Services were worth $38,098,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Stableford Capital II LLC acquired a new stake in shares of Quanta Services in the second quarter valued at about $868,000. Arizona State Retirement System increased its stake in shares of Quanta Services by 2.7% during the second quarter. Arizona State Retirement System now owns 41,638 shares of the construction company's stock worth $29,981,000 after purchasing an additional 1,110 shares in the last quarter. West Family Investments Inc. acquired a new position in shares of Quanta Services during the 2nd quarter worth about $230,000. Waverly Advisors LLC lifted its stake in Quanta Services by 3,275.5% in the 2nd quarter. Waverly Advisors LLC now owns 62,953 shares of the construction company's stock valued at $45,329,000 after buying an additional 61,088 shares in the last quarter. Finally, Bank OZK boosted its holdings in Quanta Services by 5.9% in the 2nd quarter. Bank OZK now owns 12,813 shares of the construction company's stock worth $9,226,000 after buying an additional 713 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 1.3%

NYSE PWR opened at $618.90 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.10 and a quick ratio of 1.05. The stock has a market capitalization of $93.05 billion, a P/E ratio of 70.89, a PEG ratio of 2.05 and a beta of 1.20. The firm's 50-day moving average is $646.13 and its two-hundred day moving average is $645.96. Quanta Services, Inc. has a 12 month low of $373.39 and a 12 month high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.31 by $0.93. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $2.48 EPS. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 15.35 earnings per share for the current year.

Quanta Services announced that its board has initiated a stock 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 reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Quanta Services Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on PWR. Jefferies Financial Group reiterated a "buy" rating and set a $833.00 price objective on shares of Quanta Services in a research note on Thursday, August 13th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $714.00 price target on shares of Quanta Services in a research note on Tuesday, July 21st. Argus set a $800.00 price objective on Quanta Services in a research note on Wednesday, August 5th. Zacks Research upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Finally, Truist Financial reaffirmed a "buy" rating and set a $976.00 target price (up from $940.00) on shares of Quanta Services in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $767.72.

About Quanta Services

Quanta Services, Inc is an infrastructure solutions provider serving the electric power, communications, pipeline, industrial and renewable energy industries. The company designs, installs, repairs and maintains infrastructure used to generate, transmit and distribute electricity, as well as systems that support telecommunications, natural gas and other energy-related activities.

Its services include engineering, procurement and construction; utility and substation work; transmission and distribution projects; storm restoration; fiber-optic and wireless network deployment; pipeline construction and maintenance; and development of renewable energy and energy storage infrastructure.

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