Quanta Services, Inc. $PWR Stock: CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Cuts Holdings

Key Points

• NXG Investment Management reduced its Quanta Services stake by 5.8% in the third quarter, selling 2,550 shares and retaining 41,250 shares valued at approximately $26.5 million.
• Quanta Services reported quarterly earnings of $4.24 per share on $9.56 billion in revenue, surpassing analyst estimates, while revenue increased 41.1% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $761.24, despite the stock opening at $564.02 and trading well below its 52-week high of $788.75.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,250 shares of the construction company's stock after selling 2,550 shares during the quarter. Quanta Services makes up about 1.2% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 25th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Quanta Services were worth $26,504,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC lifted its position in shares of Quanta Services by 2.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company's stock valued at $282,000 after acquiring an additional 13 shares in the last quarter. Pincus Capital Management LP increased its position in Quanta Services by 0.4% during the 1st quarter. Pincus Capital Management LP now owns 3,690 shares of the construction company's stock worth $2,026,000 after purchasing an additional 15 shares in the last quarter. SouthState Bank Corp increased its position in Quanta Services by 23.5% during the 1st quarter. SouthState Bank Corp now owns 84 shares of the construction company's stock worth $46,000 after purchasing an additional 16 shares in the last quarter. Stiles Financial Services Inc raised its stake in Quanta Services by 1.8% in the 1st quarter. Stiles Financial Services Inc now owns 987 shares of the construction company's stock valued at $542,000 after purchasing an additional 17 shares during the last quarter. Finally, Ethos Financial Group LLC raised its stake in Quanta Services by 1.8% in the 1st quarter. Ethos Financial Group LLC now owns 1,064 shares of the construction company's stock valued at $584,000 after purchasing an additional 19 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

PWR opened at $564.02 on Tuesday. The company has a 50 day moving average of $639.18 and a two-hundred day moving average of $619.51. The company has a market cap of $84.79 billion, a P/E ratio of 64.61, a P/E/G ratio of 1.61 and a beta of 1.27. Quanta Services, Inc. has a 52-week low of $408.36 and a 52-week high of $788.75. 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 issued its earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.93. The company 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 company's revenue was up 41.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.48 earnings per share. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. On average, analysts expect that Quanta Services, Inc. will post 15.37 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Thursday, October 1st were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, October 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 5.04%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PWR shares. Guggenheim upgraded shares of Quanta Services from a "neutral" rating to a "buy" rating and set a $800.00 target price on the stock in a report on Friday, July 31st. TD Cowen boosted their price objective on shares of Quanta Services from $775.00 to $785.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, October 13th. Argus set a $800.00 target price on shares of Quanta Services in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $833.00 target price on shares of Quanta Services in a research note on Thursday, August 13th. Twenty-three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $761.24.

Quanta Services Company Profile

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.

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