Quanta Services, Inc. $PWR Shares Sold by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 96.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,947 shares of the construction company's stock after selling 89,026 shares during the period. Alyeska Investment Group L.P.'s holdings in Quanta Services were worth $2,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Quanta Services in the fourth quarter valued at about $817,285,000. Victory Capital Management Inc. increased its holdings 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 valued at $1,230,493,000 after acquiring an additional 758,862 shares in the last quarter. Corient Private Wealth LLC increased its holdings 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 valued at $486,065,000 after acquiring an additional 667,050 shares in the last quarter. Sands Capital Management LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $243,485,000. Finally, Select Equity Group L.P. boosted its stake in Quanta Services by 69.3% in the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company's stock worth $384,554,000 after purchasing an additional 416,395 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research reports. Oppenheimer raised Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price target for the company in a research report on Thursday, May 28th. Benchmark cut Quanta Services to a "sell" rating in a research note on Friday, July 31st. Robert W. Baird set a $728.00 target price on Quanta Services in a report on Friday, July 31st. UBS Group reiterated a "buy" rating on shares of Quanta Services in a research report on Monday, August 17th. Finally, Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Sunday, August 2nd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and an average target price of $769.25.

Quanta Services Trading Up 0.7%

Shares of NYSE:PWR opened at $611.43 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The business has a 50 day moving average of $656.94 and a two-hundred day moving average of $641.39. The company has a market capitalization of $91.92 billion, a PE ratio of 70.04, a PEG ratio of 1.99 and a beta of 1.20.

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

Quanta Services announced that its board has initiated a share repurchase plan on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are 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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