Braun Stacey Associates Inc. Cuts Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Braun Stacey Associates cut its Quanta Services stake by 8% in the second quarter, selling 5,896 shares and retaining 68,056 shares valued at approximately $49 million. Institutional investors and hedge funds collectively own 90.49% of PWR.
• Analysts remain broadly optimistic, with a consensus rating of “Moderate Buy” and an average price target of $769.25; several firms recently raised their targets, including Truist Financial to $976.
• Quanta Services reported strong quarterly results, earning $4.24 per share versus the $3.31 consensus estimate and generating $9.56 billion in revenue, up 41.1% year over year. The company also authorized a $1 billion share-repurchase program.

Braun Stacey Associates Inc. cut its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,056 shares of the construction company's stock after selling 5,896 shares during the period. Quanta Services comprises about 1.4% of Braun Stacey Associates Inc.'s holdings, making the stock its 19th largest holding. Braun Stacey Associates Inc.'s holdings in Quanta Services were worth $49,003,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Quanta Services in the 4th quarter valued at about $817,285,000. Victory Capital Management Inc. grew its position in shares of Quanta Services by 35.2% during the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company's stock worth $1,230,493,000 after buying an additional 758,862 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Quanta Services by 137.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company's stock worth $486,065,000 after buying an additional 667,050 shares during the period. Sands Capital Management LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $243,485,000. Finally, Select Equity Group L.P. lifted its stake in Quanta Services by 69.3% in the second quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company's stock worth $384,554,000 after acquiring an additional 416,395 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PWR has been the subject of several analyst reports. The Goldman Sachs Group boosted their price target 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. BMO Capital Markets lifted their price objective on shares of Quanta Services from $650.00 to $800.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Stifel Nicolaus set a $784.00 target price on shares of Quanta Services in a research note on Friday, May 1st. Truist Financial reissued a "buy" rating and issued a $976.00 target price (up from $940.00) on shares of Quanta Services in a report on Monday, August 3rd. Finally, TD Cowen raised their price target on Quanta Services from $775.00 to $785.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and an average price target of $769.25.

Quanta Services Trading Down 3.0%

Shares of Quanta Services stock opened at $603.18 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $661.49 and a 200-day simple moving average of $639.21. The stock has a market cap of $90.68 billion, a price-to-earnings ratio of 69.09, a PEG ratio of 2.04 and a beta of 1.23. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 EPS for the quarter, topping the consensus estimate of $3.31 by $0.93. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.61 billion. During the same period last year, the business earned $2.48 EPS. Quanta Services's revenue for the quarter was up 41.1% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. On average, equities analysts forecast that Quanta Services, Inc. will post 15.35 EPS for the current fiscal year.

Quanta Services announced that its Board of Directors has initiated a share repurchase plan on Friday, May 22nd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

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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