Candelo Capital Management LP Cuts Stock Position in Quanta Services, Inc. $PWR

Candelo Capital Management LP decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 11.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,018 shares of the construction company’s stock after selling 1,652 shares during the period. Quanta Services accounts for approximately 4.7% of Candelo Capital Management LP’s holdings, making the stock its 5th largest position. Candelo Capital Management LP’s holdings in Quanta Services were worth $5,395,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Quanta Services during the fourth quarter valued at approximately $298,000. Woodline Partners LP grew its stake in Quanta Services by 40.7% in the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after purchasing an additional 3,606 shares in the last quarter. AE Wealth Management LLC acquired a new position in shares of Quanta Services during the 2nd quarter worth approximately $351,000. Boston Partners bought a new stake in shares of Quanta Services during the 2nd quarter worth approximately $936,000. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Quanta Services by 8.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 589 shares of the construction company’s stock valued at $223,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PWR. Sanford C. Bernstein boosted their target price on shares of Quanta Services from $471.00 to $515.00 and gave the stock a “market perform” rating in a report on Tuesday, February 24th. Truist Financial reiterated a “buy” rating and issued a $643.00 price target (up from $548.00) on shares of Quanta Services in a research note on Friday, February 20th. Jefferies Financial Group boosted their price objective on shares of Quanta Services from $506.00 to $634.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. B. Riley Financial upped their target price on shares of Quanta Services from $450.00 to $565.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Finally, Citigroup raised their target price on shares of Quanta Services from $540.00 to $640.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $576.55.

Quanta Services Trading Down 1.5%

PWR stock opened at $558.55 on Friday. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $576.86. The company has a market capitalization of $83.57 billion, a PE ratio of 82.14, a price-to-earnings-growth ratio of 2.54 and a beta of 1.10. The company’s 50-day simple moving average is $504.26 and its 200 day simple moving average is $452.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.09 and a current ratio of 1.14.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 19th. The construction company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.14. Quanta Services had a net margin of 3.61% and a return on equity of 18.10%. The business had revenue of $7.84 billion during the quarter, compared to analysts’ expectations of $7.38 billion. During the same quarter in the previous year, the company earned $2.94 EPS. The business’s revenue was up 19.7% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 12.650-13.350 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

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.