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

Key Points

• QRG Capital Management increased its Quanta Services stake by 20% in the second quarter, bringing its holdings to 18,247 shares valued at approximately $13.1 million. Institutional investors collectively own 90.49% of PWR.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $767.72. Recent targets range from $741 to $807.
• Quanta Services reported strong quarterly results, including $4.24 in EPS versus the $3.31 estimate and $9.56 billion in revenue, up 41.1% year over year. The company also declared a quarterly dividend of $0.11 per share.

QRG Capital Management Inc. boosted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 20.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,247 shares of the construction company's stock after purchasing an additional 3,043 shares during the period. QRG Capital Management Inc.'s holdings in Quanta Services were worth $13,139,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PWR. Norges Bank purchased a new position in shares of Quanta Services during the 4th quarter worth $817,285,000. Victory Capital Management Inc. raised its stake in shares of Quanta Services by 35.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company's stock valued at $1,230,493,000 after acquiring an additional 758,862 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Quanta Services by 137.6% in the 4th quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company's stock worth $486,065,000 after acquiring an additional 667,050 shares during the last quarter. Sands Capital Management LLC purchased a new position in shares of Quanta Services during the 4th quarter worth approximately $243,485,000. Finally, State Street Corp increased its holdings in Quanta Services by 4.7% in the 2nd quarter. State Street Corp now owns 6,581,807 shares of the construction company's stock valued at $4,739,164,000 after purchasing an additional 296,893 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on PWR shares. KeyCorp upgraded Quanta Services from a "sector weight" rating to an "overweight" rating and set a $807.00 price target on the stock in a research note on Friday, August 7th. Zacks Research upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Mizuho raised their target price on Quanta Services from $659.00 to $741.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Argus set a $800.00 price target on shares of Quanta Services in a research report on Wednesday, August 5th. Finally, TD Cowen lifted their price objective on shares of Quanta Services from $775.00 to $785.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $767.72.

Quanta Services Stock Down 1.2%

Shares of NYSE:PWR opened at $635.13 on Thursday. The firm has a 50 day simple moving average of $640.75 and a 200-day simple moving average of $650.27. Quanta Services, Inc. has a twelve month low of $389.70 and a twelve 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 company has a market capitalization of $95.49 billion, a PE ratio of 72.75, a P/E/G ratio of 1.90 and a beta of 1.20.

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 predict that Quanta Services, Inc. will post 15.33 EPS for the current fiscal year.

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 issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, October 1st. Quanta Services's payout ratio is presently 5.04%.

Quanta Services Profile

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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