Quanta Services (PWR) Surged on Strong Earnings and Improved Guidance
Key takeaways
- A copy of the letter is available to download here.
- In its first-quarter 2026 investor letter, Sands Capital Select Growth Strategy highlighted Quanta Services, Inc.
- Sands Capital Select Growth Strategy stated the following regarding Quanta Services, Inc.
Quanta Services (PWR) Surged on Strong Earnings and Improved Guidance Soumya Eswaran Wed, June 10, 2026 at 7:12 PM GMT+7 3 min read PWR Sands Capital Management, LLC released its Q1 2026 investor letter for its “Select Growth Strategy”. A copy of the letter is available to download here. Select Growth mainly targets leading U.S. businesses, driving positive structural changes. U.S. large-cap growth stocks fell in the first quarter. Sharp dispersion driven by AI advances marked the quarter, but late in the quarter, geopolitical tensions with Iran caused a broad-based risk-off move across the market. AI continued to influence market behavior, with AI-related investments increasing dispersion and shifting capital to asset-heavy sectors benefiting from AI infrastructure demand, which faced less disruption risk. While equities struggled, corporate fundamentals remained strong. Select Growth underperformed the Russell 1000 Growth Index, returning -12.9% vs. -9.8%, due to concerns about AI disruption affecting sector and stock choices. The Strategy s focus on higher-growth, asset-light, service businesses faced challenges as markets rotated toward more capital-intensive, lower-risk sectors. Underweights in cyclical and defensive sectors slightly hurt relative results amid the broader market shift. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Sands Capital Select Growth Strategy highlighted Quanta Services, Inc. (NYSE:PWR) as a notable contributor. Quanta Services, Inc. (NYSE:PWR) is an infrastructure services company that provides engineering and construction services to utilities, energy infrastructure, and telecommunications projects. On June 9, 2026, Quanta Services, Inc. (NYSE:PWR) closed at $691.95 per share. One-month return of Quanta Services, Inc. (NYSE:PWR) was -10.57%, and its shares gained 94.49% over the past 52 weeks. Quanta Services, Inc. (NYSE:PWR) has a market capitalization of $103.83 billion.
Sands Capital Select Growth Strategy stated the following regarding Quanta Services, Inc. (NYSE:PWR) in its Q1 2026 investor letter: