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

Carderock Capital Management Inc. reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 14.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 19,621 shares of the construction company’s stock after selling 3,248 shares during the period. Quanta Services makes up approximately 3.1% of Carderock Capital Management Inc.’s holdings, making the stock its 8th biggest holding. Carderock Capital Management Inc.’s holdings in Quanta Services were worth $14,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Norges Bank acquired a new stake in shares of Quanta Services during the fourth quarter worth $817,285,000. Victory Capital Management Inc. boosted its stake in Quanta Services by 35.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock worth $1,230,493,000 after purchasing an additional 758,862 shares during the period. Corient Private Wealth LLC increased its holdings in Quanta Services by 137.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company’s stock worth $486,065,000 after purchasing an additional 667,050 shares in the last quarter. Sands Capital Management LLC acquired a new stake in shares of Quanta Services in the 4th quarter valued at about $243,485,000. Finally, Select Equity Group L.P. raised its stake in shares of 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 valued at $384,554,000 after purchasing an additional 416,395 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Key Stories Impacting Quanta Services

Here are the key news stories impacting Quanta Services this week:

• Positive Sentiment: Truist reaffirmed its “buy” rating and raised its price target to $976 from $940, signaling continued confidence in Quanta’s long-term growth prospects. Benzinga
• Positive Sentiment: Mizuho increased its price target to $741 from $659. Although the firm maintained a “neutral” rating, the higher target reflects improved expectations for the infrastructure-services contractor. The Fly
• Positive Sentiment: Guggenheim upgraded Quanta Services, adding another favorable analyst signal for the stock. Quanta Services upgraded at Guggenheim
• Positive Sentiment: The company’s latest quarterly results were strong, with earnings and revenue substantially exceeding consensus estimates and revenue rising 41.1% year over year. This supports the investment case tied to demand for power, utility and infrastructure construction.
• Neutral Sentiment: Quanta priced $2 billion of senior notes: $500 million due in 2029 at 4.850%, $750 million due in 2033 at 5.300% and $750 million due in 2036 at 5.550%. Proceeds could support expansion and corporate purposes, with closing expected August 6. Quanta Services Announces Pricing of Senior Notes Offering
• Negative Sentiment: The debt issuance increases Quanta’s interest obligations and leverage, which could weigh on the stock if borrowing costs remain high or the new capital does not generate sufficient returns. The impact is partly tempered by the company’s strong earnings outlook.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PWR. Evercore upped their price objective on Quanta Services from $635.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Oppenheimer upgraded Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 target price on the stock in a research note on Thursday, May 28th. TD Cowen upped their price target on Quanta Services from $775.00 to $785.00 and gave the stock a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft cut shares of Quanta Services to a “sell” rating in a research note on Friday. Finally, Wall Street Zen upgraded shares of Quanta Services from a “hold” rating to a “buy” rating in a report on Sunday. Nineteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $758.96.

Quanta Services Price Performance

NYSE:PWR opened at $693.37 on Wednesday. Quanta Services, Inc. has a 52-week low of $363.01 and a 52-week high of $788.75. The company has a market cap of $104.24 billion, a P/E ratio of 79.42, a P/E/G ratio of 2.68 and a beta of 1.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.05 and a current ratio of 1.10. The stock’s 50-day simple moving average is $678.34 and its 200 day simple moving average is $616.97.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.93. The firm 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 business’s revenue was up 41.1% compared to the same quarter last year. During the same period last 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, sell-side analysts forecast that Quanta Services, Inc. will post 12.8 EPS for the current fiscal year.

Quanta Services announced that its Board of Directors has approved a share repurchase plan on Friday, May 22nd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to buy 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 stock is undervalued.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Wednesday, July 1st were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is currently 5.04%.

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.