Scholtz & Company LLC Sells 2,131 Shares of Quanta Services, Inc. $PWR

Key Points

• Scholtz & Company reduced its Quanta Services position by 22.1% in the second quarter, selling 2,131 shares and retaining 7,529 shares valued at approximately $5.4 million. Institutional investors collectively own 90.49% of PWR.
• Analysts remain generally bullish, with Quanta receiving a consensus “Moderate Buy” rating and an average price target of $767.72, above its reported share price of $627.62.
• Quanta reported strong quarterly results, including adjusted earnings of $4.24 per share and revenue of $9.56 billion, up 41.1% year over year. The company also declared a $0.11 quarterly dividend and authorized a $1 billion share-repurchase program.

Scholtz & Company LLC decreased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 22.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,529 shares of the construction company's stock after selling 2,131 shares during the quarter. Quanta Services accounts for 2.7% of Scholtz & Company LLC's portfolio, making the stock its 12th biggest holding. Scholtz & Company LLC's holdings in Quanta Services were worth $5,421,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PWR. Bartlett & CO. Wealth Management LLC increased its position in Quanta Services by 2.6% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company's stock worth $282,000 after purchasing an additional 13 shares during the last quarter. Pincus Capital Management LP lifted its position in Quanta Services by 0.4% during the first quarter. Pincus Capital Management LP now owns 3,690 shares of the construction company's stock valued at $2,026,000 after purchasing an additional 15 shares during the last quarter. SouthState Bank Corp grew its stake in shares of Quanta Services by 23.5% in the 1st quarter. SouthState Bank Corp now owns 84 shares of the construction company's stock worth $46,000 after buying an additional 16 shares in the last quarter. Lewis Asset Management LLC increased its holdings in shares of Quanta Services by 2.5% in the 1st quarter. Lewis Asset Management LLC now owns 692 shares of the construction company's stock worth $380,000 after buying an additional 17 shares during the last quarter. Finally, Stiles Financial Services Inc raised its position in shares of Quanta Services by 1.8% during the 1st quarter. Stiles Financial Services Inc now owns 987 shares of the construction company's stock valued at $542,000 after buying an additional 17 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the topic of several analyst reports. Robert W. Baird set a $728.00 price objective on Quanta Services in a research note on Friday, July 31st. KeyCorp upgraded Quanta Services from a "sector weight" rating to an "overweight" rating and set a $807.00 target price for the company in a report on Friday, August 7th. Oppenheimer raised Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 target price on the stock in a research report on Thursday, May 28th. Argus set a $800.00 price target on Quanta Services in a report on Wednesday, August 5th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $833.00 price objective on shares of Quanta Services in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $767.72.

Quanta Services Stock Down 1.8%

Shares of NYSE:PWR opened at $627.62 on Thursday. The firm has a market capitalization of $94.36 billion, a PE ratio of 71.89, a price-to-earnings-growth ratio of 2.09 and a beta of 1.20. The business has a 50 day simple moving average of $647.11 and a two-hundred day simple moving average of $645.49. Quanta Services, Inc. has a 1 year low of $373.39 and a 1 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.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly 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. Quanta Services had a return on equity of 20.55% and a net margin of 4.03%.The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.61 billion. During the same period in the prior year, the business posted $2.48 earnings per share. The company's revenue for the quarter was up 41.1% on a year-over-year basis. 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 15.35 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, October 1st. Quanta Services's payout ratio is currently 5.04%.

Quanta Services announced that its Board of Directors has authorized a share repurchase plan on Friday, May 22nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Quanta Services Company 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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