Quanta Services, Inc. $PWR Shares Purchased by Moore Capital Management LP

Key Points

• Moore Capital Management increased its Quanta Services stake by 26% in the second quarter, owning 11,260 shares valued at approximately $8.1 million. Institutional investors and hedge funds collectively hold 90.49% of the company.
• Analysts maintain a generally positive outlook, with Quanta receiving a “Moderate Buy” consensus rating and an average price target of $769.25, although ratings range from “Strong Buy” to “Sell.”
• Quanta Services exceeded quarterly expectations, reporting $4.24 in earnings per share and $9.56 billion in revenue, up 41.1% year over year. The company also authorized a $1 billion share-repurchase program.

Moore Capital Management LP grew its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,260 shares of the construction company's stock after purchasing an additional 2,325 shares during the quarter. Moore Capital Management LP's holdings in Quanta Services were worth $8,108,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Cedar Mountain Advisors LLC boosted its holdings in Quanta Services by 321.4% in the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company's stock worth $25,000 after acquiring an additional 45 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Quanta Services during the second quarter worth $26,000. Boreal Capital Management LLC purchased a new position in shares of Quanta Services in the first quarter valued at $27,000. MV Capital Management Inc. acquired a new stake in Quanta Services during the 4th quarter valued at $30,000. Finally, Meeder Asset Management Inc. increased its stake in Quanta Services by 221.7% during the 4th quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company's stock worth $31,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Benchmark downgraded shares of Quanta Services to a "sell" rating in a research report on Friday, July 31st. Sanford C. Bernstein reiterated a "market perform" rating and issued a $748.00 target price on shares of Quanta Services in a research note on Friday, July 31st. Mizuho raised 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $714.00 price target on shares of Quanta Services in a report on Tuesday, July 21st. Finally, Citigroup raised their target price on Quanta Services from $837.00 to $871.00 and gave the company a "buy" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $769.25.

Quanta Services Trading Up 0.1%

Quanta Services stock opened at $603.18 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 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 $90.68 billion, a PE ratio of 69.09, a price-to-earnings-growth ratio of 1.98 and a beta of 1.23. The firm has a 50 day simple moving average of $661.49 and a 200-day simple moving average of $640.09.

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

Quanta Services declared that its Board of Directors has initiated a stock buyback program on Friday, May 22nd that allows the company to repurchase $1.00 billion in outstanding 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 a sign that the company's board of directors believes its stock is 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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