Formuepleje A S Acquires Shares of 1,921 Quanta Services, Inc. $PWR

Key Points

• Formuepleje A S acquired 1,921 shares of Quanta Services in the second quarter, valued at approximately $1.38 million. Institutional investors collectively own 90.49% of the company.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $769.25; recent targets range as high as $976.
• Quanta Services beat quarterly estimates with $4.24 in EPS and $9.56 billion in revenue, up 41.1% year over year. The company also authorized a $1 billion share-repurchase plan and declared a quarterly dividend of $0.11 per share.

Formuepleje A S acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,921 shares of the construction company's stock, valued at approximately $1,383,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC bought a new stake in Quanta Services in the 4th quarter valued at $298,000. Woodline Partners LP increased its holdings in shares of Quanta Services by 40.7% in the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company's stock valued at $3,170,000 after purchasing an additional 3,606 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Quanta Services in the second quarter valued at $4,632,000. Marshall Wace LLP bought a new position in shares of Quanta Services in the second quarter valued at about $996,000. Finally, StoneX Group Inc. acquired a new stake in shares of Quanta Services during the 2nd quarter worth about $204,000. 90.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PWR has been the topic of a number of research reports. Mizuho upped their price target on shares of Quanta Services from $659.00 to $741.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. TD Cowen raised their price objective on shares of Quanta Services from $775.00 to $785.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Oppenheimer raised Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 target price on the stock in a research report on Thursday, May 28th. Robert W. Baird set a $728.00 target price on Quanta Services in a research note on Friday, July 31st. Finally, Truist Financial restated a "buy" rating and issued a $976.00 price target (up from $940.00) on shares of Quanta Services in a research note on Monday, August 3rd. One 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 given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $769.25.

Quanta Services Stock Performance

NYSE PWR opened at $623.80 on Monday. The firm has a 50-day moving average price of $651.88 and a two-hundred day moving average price of $643.44. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The company has a market capitalization 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. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR - Get Free Report) last announced its 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 company had revenue of $9.56 billion for the quarter, compared to analysts' expectations of $8.61 billion. During the same period last year, the firm earned $2.48 earnings per share. The business's revenue for the quarter was up 41.1% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. Analysts anticipate that Quanta Services, Inc. will post 15.35 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed 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 (DPR) is 5.04%.

Quanta Services announced that its board has authorized a share repurchase plan on Friday, May 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its stock is undervalued.

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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