Marvin & Palmer Associates Inc. Has $5.89 Million Stock Holdings in Quanta Services, Inc. $PWR

Marvin & Palmer Associates Inc. increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 38.3% during the 2nd quarter, Holdings Channel reports. The fund owned 8,182 shares of the construction company’s stock after buying an additional 2,265 shares during the quarter. Quanta Services accounts for about 3.8% of Marvin & Palmer Associates Inc.’s investment portfolio, making the stock its 11th biggest holding. Marvin & Palmer Associates Inc.’s holdings in Quanta Services were worth $5,891,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cetera Investment Advisers lifted its stake in Quanta Services by 5.8% in the first quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company’s stock valued at $40,701,000 after buying an additional 4,087 shares in the last quarter. Evoke Wealth LLC bought a new stake in shares of Quanta Services during the fourth quarter worth $368,000. Sequoia Financial Advisors LLC raised its holdings in shares of Quanta Services by 3.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company’s stock worth $55,052,000 after acquiring an additional 3,966 shares during the period. North Dakota State Investment Board bought a new stake in Quanta Services in the 4th quarter valued at $2,131,000. Finally, Brighton Jones LLC acquired a new position in Quanta Services in the 4th quarter worth $298,000. Institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PWR. TD Cowen lifted their price target on Quanta Services from $775.00 to $785.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded Quanta Services from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. UBS Group reaffirmed a “buy” rating on shares of Quanta Services in a research report on Monday, August 17th. Deutsche Bank Aktiengesellschaft lowered shares of Quanta Services to a “sell” rating in a research report on Friday, July 31st. Finally, CICC Research initiated coverage on shares of Quanta Services in a research report on Thursday, May 21st. They set an “outperform” rating and a $872.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $769.25.

Quanta Services Stock Down 3.0%

Shares of PWR stock opened at $603.18 on Friday. Quanta Services, Inc. has a 52-week low of $363.01 and a 52-week high of $788.75. The stock has a market cap of $90.68 billion, a price-to-earnings ratio of 69.09, a PEG ratio of 1.98 and a beta of 1.23. The firm’s 50-day moving average is $661.49 and its 200-day moving average is $639.21. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.05 and a current ratio of 1.10.

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

Quanta Services declared that its board has approved a stock buyback 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 purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.