Quanta Services, Inc. $PWR Shares Sold by Bornite Capital Management LP

Key Points

• Bornite Capital Management LP cut its Quanta Services stake by 92.8% in the second quarter, selling 55,700 shares and retaining 4,300 shares valued at approximately $3.1 million.
• Quanta Services reported strong quarterly results, with EPS of $4.24 versus the $3.31 consensus and revenue of $9.56 billion, up 41.1% year over year. The company also authorized a $1 billion share-repurchase program.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $769.25 price target, despite ratings ranging from “sell” to “strong buy.”

Bornite Capital Management LP reduced its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 92.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,300 shares of the construction company's stock after selling 55,700 shares during the period. Quanta Services makes up about 0.4% of Bornite Capital Management LP's investment portfolio, making the stock its 19th largest position. Bornite Capital Management LP's holdings in Quanta Services were worth $3,096,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Legacy Financial Advisors Inc. raised its holdings in shares of Quanta Services by 5.6% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 696 shares of the construction company's stock worth $501,000 after purchasing an additional 37 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Quanta Services in the second quarter valued at $661,000. Nwam LLC acquired a new stake in Quanta Services during the 2nd quarter worth about $403,000. Rehmann Capital Advisory Group boosted its holdings in shares of Quanta Services by 26.5% during the second quarter. Rehmann Capital Advisory Group now owns 763 shares of the construction company's stock worth $549,000 after purchasing an additional 160 shares during the period. Finally, JNBA Financial Advisors boosted its stake in shares of Quanta Services by 1,733.3% during the 2nd quarter. JNBA Financial Advisors now owns 55 shares of the construction company's stock valued at $40,000 after buying an additional 52 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR opened at $611.43 on Wednesday. The company has a market capitalization of $91.92 billion, a PE ratio of 70.04, a price-to-earnings-growth ratio of 1.99 and a beta of 1.20. Quanta Services, Inc. has a one year low of $363.01 and a one year 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 company's fifty day moving average price is $656.94 and its 200 day moving average price is $641.39.

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

Quanta Services announced that its board has authorized a stock repurchase plan on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PWR shares. Robert W. Baird set a $728.00 price target on Quanta Services in a report on Friday, July 31st. JPMorgan Chase & Co. reissued a "neutral" rating and set a $714.00 target price on shares of Quanta Services in a research report on Tuesday, July 21st. CICC Research started coverage on Quanta Services in a report on Thursday, May 21st. They set an "outperform" rating and a $872.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut Quanta Services to a "sell" rating in a research report on Friday, July 31st. Finally, Jefferies Financial Group reissued a "buy" rating and set a $833.00 price objective on shares of Quanta Services in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $769.25.

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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