Proficio Capital Partners LLC Purchases Shares of 918 Quanta Services, Inc. $PWR

Proficio Capital Partners LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 918 shares of the construction company’s stock, valued at approximately $661,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in Quanta Services by 2.1% in the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock valued at $2,619,626,000 after acquiring an additional 126,014 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Quanta Services by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock valued at $1,718,371,000 after purchasing an additional 110,360 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Quanta Services by 5.4% in the first quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company’s stock worth $1,891,215,000 after purchasing an additional 175,184 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Quanta Services by 35.2% during the fourth 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 last quarter. Finally, Norges Bank acquired a new position in Quanta Services during the fourth quarter worth $817,285,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PWR shares. Truist Financial restated a “buy” rating and set a $976.00 price objective (up from $940.00) on shares of Quanta Services in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft lowered Quanta Services to a “sell” rating in a report on Friday, July 31st. Morgan Stanley cut Quanta Services to an “underweight” rating in a research report on Monday, August 3rd. BTIG Research lowered Quanta Services to a “hold” rating in a research report on Friday, July 31st. Finally, KeyCorp upgraded Quanta Services from a “sector weight” rating to an “overweight” rating and set a $807.00 price objective on the stock in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $769.25.

Quanta Services Trading Down 0.1%

Shares of NYSE:PWR opened at $610.59 on Thursday. Quanta Services, Inc. has a 52-week low of $363.01 and a 52-week high of $788.75. 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 company has a market capitalization of $91.80 billion, a P/E ratio of 69.94, a price-to-earnings-growth ratio of 2.00 and a beta of 1.20. The company has a 50-day simple moving average of $655.09 and a 200 day simple moving average of $642.05.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $4.24 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $8.61 billion. During the same quarter in the prior year, the company earned $2.48 earnings per share. The business’s revenue for the quarter was up 41.1% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. Sell-side analysts forecast that Quanta Services, Inc. will post 15.35 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Quanta Services announced that its board has initiated a share repurchase program 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 programs are often an indication that the company’s board believes its stock is undervalued.

Quanta Services 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.