California State Teachers Retirement System Acquires 162,905,078 Shares of Quanta Services, Inc. $PWR

Key Points

• CalSTRS reported a massive increase in its Quanta Services stake, acquiring 162.9 million additional shares in the second quarter and reporting ownership of 163.1 million shares. The filing’s stated 108.51% ownership figure appears inconsistent with the company’s share count.
• Quanta Services exceeded quarterly expectations, posting $4.24 in EPS and $9.56 billion in revenue, with revenue up 41.1% year over year. The company issued fiscal 2026 EPS guidance of $16.45–$16.95.
• The stock traded at $623.80, while analysts maintained a “Moderate Buy” consensus with a $769.25 average price target. Quanta also authorized a $1 billion share repurchase program and declared a quarterly dividend of $0.11 per share.

California State Teachers Retirement System lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 73,333.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,127,222 shares of the construction company's stock after acquiring an additional 162,905,078 shares during the quarter. California State Teachers Retirement System owned approximately 108.51% of Quanta Services worth $117,458,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its holdings in shares of Quanta Services by 5.8% during the 1st quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company's stock worth $40,701,000 after acquiring an additional 4,087 shares during the period. Evoke Wealth LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $368,000. North Dakota State Investment Board bought a new stake in shares of Quanta Services during the fourth quarter valued at approximately $2,131,000. Brighton Jones LLC purchased a new stake in Quanta Services in the fourth quarter worth $298,000. Finally, Alta Capital Management LLC purchased a new stake in Quanta Services in the fourth quarter worth $1,685,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Trading Down 0.1%

NYSE PWR opened at $623.80 on Monday. Quanta Services, Inc. has a 12 month low of $363.01 and a 12 month high of $788.75. 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 stock's fifty day moving average price is $651.88 and its 200-day moving average price is $643.44. The stock has a market cap of $93.78 billion, a P/E 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 posted its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.93. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.61 billion. Quanta Services had a return on equity of 20.55% and a net margin of 4.03%.Quanta Services's quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.48 EPS. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. As a group, equities analysts forecast that Quanta Services, Inc. will post 15.35 EPS for the current fiscal year.

Quanta Services announced that its board has approved a share buyback program on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Quanta Services Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Robert W. Baird set a $728.00 price objective on Quanta Services in a research report on Friday, July 31st. Argus set a $800.00 target price on shares of Quanta Services in a research report on Wednesday, August 5th. Mizuho increased their price target on shares of Quanta Services from $659.00 to $741.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Truist Financial reissued a "buy" rating and set a $976.00 price objective (up from $940.00) on shares of Quanta Services in a research note on Monday, August 3rd. Finally, Cantor Fitzgerald began coverage on shares of Quanta Services in a report on Friday, July 31st. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $769.25.

Quanta Services Company Profile

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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