Van ECK Associates Corp Purchases Shares of 21,007 Quanta Services, Inc. $PWR

Van ECK Associates Corp purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 21,007 shares of the construction company’s stock, valued at approximately $15,126,000.

Several other institutional investors also recently modified their holdings of PWR. Cedar Mountain Advisors LLC raised its position in Quanta Services by 321.4% during the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock worth $25,000 after purchasing an additional 45 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Quanta Services in the 2nd quarter valued at about $26,000. Boreal Capital Management LLC acquired a new stake in shares of Quanta Services in the first quarter valued at about $27,000. MV Capital Management Inc. acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $30,000. Finally, Meeder Asset Management Inc. raised its position in shares of Quanta Services by 221.7% during the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock worth $31,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PWR. Guggenheim upgraded Quanta Services from a “neutral” rating to a “buy” rating and set a $800.00 target price on the stock in a report on Friday, July 31st. CICC Research started coverage on shares of Quanta Services in a report on Thursday, May 21st. They set an “outperform” rating and a $872.00 price target for the company. Citigroup boosted their price target on shares of Quanta Services from $837.00 to $871.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Mizuho increased their price objective on shares of Quanta Services from $659.00 to $741.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $769.25.

Quanta Services Price Performance

Shares of PWR opened at $606.78 on Tuesday. 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 business’s 50 day moving average price is $658.78 and its two-hundred day moving average price is $640.77. The firm has a market cap 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 (NYSE:PWR) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $4.24 EPS for the quarter, topping the consensus estimate of $3.31 by $0.93. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate 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 firm posted $2.48 EPS. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. On average, equities analysts anticipate that Quanta Services, Inc. will post 15.35 EPS for the current year.

Quanta Services announced that its board has authorized a stock repurchase plan on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is 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.