Van ECK Associates Corp Invests $15.13 Million in Quanta Services, Inc. $PWR

Van ECK Associates Corp purchased a new stake in Quanta Services, Inc. (NYSE:PWR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,007 shares of the construction company’s stock, valued at approximately $15,126,000.

A number of other large investors have also added to or reduced their stakes in PWR. Bartlett & CO. Wealth Management LLC raised its holdings in Quanta Services by 2.6% in the 1st 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 grew its holdings in shares of 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 shares of Quanta Services by 23.5% in the first quarter. SouthState Bank Corp now owns 84 shares of the construction company’s stock worth $46,000 after purchasing an additional 16 shares during the period. Lewis Asset Management LLC raised its stake in Quanta Services by 2.5% in the first quarter. Lewis Asset Management LLC now owns 692 shares of the construction company’s stock valued at $380,000 after purchasing an additional 17 shares in the last quarter. Finally, Stiles Financial Services Inc lifted its position in Quanta Services by 1.8% during the first quarter. Stiles Financial Services Inc now owns 987 shares of the construction company’s stock worth $542,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PWR. Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Zacks Research raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. KeyCorp upgraded shares of Quanta Services from a “sector weight” rating to an “overweight” rating and set a $807.00 price objective for the company in a research report on Friday, August 7th. Robert W. Baird set a $728.00 target price on Quanta Services in a report on Friday, July 31st. Finally, Weiss Ratings lowered Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. 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 assigned a Sell rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $769.25.

Quanta Services Trading Up 0.7%

Shares of Quanta Services stock opened at $606.78 on Tuesday. The firm’s 50 day moving average is $658.78 and its 200 day moving average is $640.77. The firm has a market capitalization of $91.22 billion, a PE ratio of 69.51, a price-to-earnings-growth ratio of 1.98 and a beta of 1.23. Quanta Services, Inc. has a 1 year low of $363.01 and a 1 year high of $788.75. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last issued its 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 for the quarter, compared to analyst estimates of $8.61 billion. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The company’s quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter last year, the business posted $2.48 earnings per share. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 15.35 earnings per share for the current fiscal year.

Quanta Services announced that its Board of Directors has approved a share buyback plan on Friday, May 22nd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management 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.