Picton Mahoney Asset Management Cuts Holdings in Quanta Services, Inc. $PWR

Picton Mahoney Asset Management lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 16.0% in the third quarter, Holdings Channel.com reports. The fund owned 63,775 shares of the construction company’s stock after selling 12,110 shares during the quarter. Picton Mahoney Asset Management’s holdings in Quanta Services were worth $26,430,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PWR. Victory Capital Management Inc. grew its stake in Quanta Services by 8.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,156,578 shares of the construction company’s stock worth $893,139,000 after acquiring an additional 174,083 shares during the period. CI Investments Inc. increased its position in Quanta Services by 33.6% during the third quarter. CI Investments Inc. now owns 41,134 shares of the construction company’s stock worth $17,047,000 after purchasing an additional 10,334 shares during the last quarter. WASHINGTON TRUST Co boosted its holdings in Quanta Services by 0.7% in the third quarter. WASHINGTON TRUST Co now owns 56,364 shares of the construction company’s stock valued at $23,358,000 after acquiring an additional 387 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Quanta Services by 34.0% in the 3rd quarter. Fisher Asset Management LLC now owns 789 shares of the construction company’s stock valued at $327,000 after purchasing an additional 200 shares in the last quarter. Finally, Arete Wealth Advisors LLC grew its stake in Quanta Services by 11.7% during the third quarter. Arete Wealth Advisors LLC now owns 897 shares of the construction company’s stock worth $372,000 after buying an additional 94 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Mizuho increased their price objective on shares of Quanta Services from $424.00 to $537.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Cantor Fitzgerald lifted their target price on Quanta Services from $520.00 to $630.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Stifel Nicolaus set a $647.00 price objective on shares of Quanta Services in a research report on Monday, February 23rd. Citigroup increased their target price on Quanta Services from $540.00 to $640.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Bank of America raised their price target on shares of Quanta Services from $500.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $576.55.

Quanta Services Trading Down 1.2%

NYSE:PWR opened at $565.78 on Wednesday. The company has a market capitalization of $84.65 billion, a P/E ratio of 83.20, a P/E/G ratio of 2.62 and a beta of 1.10. The stock’s 50 day moving average price is $483.43 and its 200 day moving average price is $443.24. 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, Inc. has a 52 week low of $227.08 and a 52 week high of $573.97.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 19th. The construction company reported $3.16 EPS for the quarter, beating the consensus estimate of $3.02 by $0.14. The company had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $7.38 billion. Quanta Services had a return on equity of 18.10% and a net margin of 3.61%.The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.94 earnings per share. Quanta Services has set its FY 2026 guidance at 12.650-13.350 EPS. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

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.