Quanta Services slides as investors weigh recent debt raise and acquisition activity

Quanta Services (PWR) is down 3.2% today. Here is some analysis on what might have caused this price movement.

Analysis: A clear single-day catalyst is not obvious, but the pullback may reflect investors digesting Quanta’s recent financing and acquisition activity after a strong second-quarter report. This could be because the market is balancing stronger growth and backlog against added debt and execution risk tied to integrating several newly acquired businesses.

Details:

Quanta reported second-quarter 2026 revenue of $9.56 billion, adjusted diluted EPS of $4.24, and total backlog of $53.4 billion, while raising its full-year 2026 financial expectations across all metrics.

The company said it completed or announced four acquisitions around the second quarter and July 2026, including Phalcon, Enerfab, Percheron, and PSD, broadening its electrical, fabrication, and front-end infrastructure capabilities.

Quanta also priced $2.0 billion of senior notes in early August 2026, with proceeds intended for general corporate purposes including repayment of borrowings under its commercial paper program and senior credit facility.

The newly acquired businesses are expected to add meaningful 2026 revenue and adjusted EBITDA, but the combination of higher leverage and integration work can sometimes pressure shares even when operating results remain strong.

Sources:

Quanta Services Investor Relations, SEC, Quanta Services Investor Relations

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PWR Insider Trading Activity

$PWR insiders have traded $PWR stock on the open market 27 times in the past 6 months. Of those trades, 0 have been purchases and 27 have been sales.

Here’s a breakdown of recent trading of $PWR stock by insiders over the last 6 months:

EARL C. JR. AUSTIN (President and CEO) has made 0 purchases and 26 sales selling 155,992 shares for an estimated $120,216,530.
PAUL NOBEL (Chief Accounting Officer & SVP) sold 4,000 shares for an estimated $3,027,920

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$PWR Hedge Fund Activity

We have seen 962 institutional investors add shares of $PWR stock to their portfolio, and 881 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added 162,905,078 shares (+73333.1%) to their portfolio in Q2 2026, for an estimated $117,298,172,363
JPMORGAN CHASE & CO added 5,308,495 shares (+inf%) to their portfolio in Q2 2026, for an estimated $3,822,328,739
VICTORY CAPITAL MANAGEMENT INC removed 2,199,619 shares (-75.4%) from their portfolio in Q2 2026, for an estimated $1,583,813,664
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 1,207,652 shares (+inf%) to their portfolio in Q2 2026, for an estimated $869,557,746
CORIENT PRIVATE WEALTH LLC removed 1,126,378 shares (-97.8%) from their portfolio in Q1 2026, for an estimated $618,404,049
ALLIANCEBERNSTEIN L.P. added 1,010,235 shares (+334.6%) to their portfolio in Q2 2026, for an estimated $727,409,609
BLACKROCK, INC. removed 989,283 shares (-7.0%) from their portfolio in Q2 2026, for an estimated $712,323,331

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$PWR Congressional Stock Trading

Members of Congress have traded $PWR stock 5 times in the past 6 months. Of those trades, 1 have been purchases and 4 have been sales.

Here’s a breakdown of recent trading of $PWR stock by members of Congress over the last 6 months:

REPRESENTATIVE APRIL MCCLAIN DELANEY has traded it 2 times. They made 0 purchases and 2 sales worth up to $65,000 on 05/14, 05/13.
REPRESENTATIVE DWIGHT EVANS sold up to $15,000 on 05/07.
REPRESENTATIVE LIZZIE FLETCHER sold up to $15,000 on 04/08.
SENATOR ALAN ARMSTRONG purchased up to $15,000 on 03/27.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$PWR Price Targets

Multiple analysts have issued price targets for $PWR recently. We have seen 12 analysts offer price targets for $PWR in the last 6 months, with a median target of $815.5.

Here are some recent targets:

Jamie Cook from Truist Securities set a target price of $940.0 on 07/02/2026
Brent Thielman from Oppenheimer set a target price of $800.0 on 05/28/2026
An analyst from CICC set a target price of $872.0 on 05/21/2026
Manish A. Somaiya from Cantor Fitzgerald set a target price of $901.0 on 05/11/2026
Atidrip Modak from Goldman Sachs set a target price of $826.0 on 05/04/2026
Marc Bianchi from TD Cowen set a target price of $775.0 on 05/04/2026
Steven Fisher from UBS set a target price of $900.0 on 05/04/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.