Aberdeen Group plc Has $26.49 Million Holdings in Quanta Services, Inc. $PWR

Key Points

• Aberdeen Group plc increased its stake in Quanta Services, Inc. by 33.4%, acquiring an additional 26,549 shares and reaching a total of 105,958 shares worth approximately $26.49 million.
• Quanta Services reported strong earnings for the last quarter, with $2.48 EPS, surpassing estimates, and a revenue of $6.77 billion, up 21.1% year-over-year.
• Research analysts have largely favored Quanta Services, with thirteen ratings as a Buy and a target price averaging $392.45.

Aberdeen Group plc lifted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 33.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,958 shares of the construction company's stock after purchasing an additional 26,549 shares during the period. Aberdeen Group plc owned 0.07% of Quanta Services worth $26,494,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Frank Rimerman Advisors LLC raised its stake in Quanta Services by 1.1% during the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock worth $792,000 after buying an additional 34 shares during the period. Legacy Capital Wealth Partners LLC raised its stake in Quanta Services by 3.4% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock worth $277,000 after buying an additional 36 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Quanta Services by 2.6% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock worth $365,000 after buying an additional 37 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in Quanta Services by 15.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company's stock worth $72,000 after buying an additional 38 shares during the period. Finally, Kerntke Otto McGlone Wealth Management Group raised its stake in Quanta Services by 3.0% during the 1st quarter. Kerntke Otto McGlone Wealth Management Group now owns 1,356 shares of the construction company's stock worth $345,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on PWR shares. Truist Financial raised their price objective on Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Sanford C. Bernstein downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a research note on Monday, July 28th. Finally, DA Davidson lifted their price target on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Stock Up 0.4%

Shares of NYSE:PWR traded up $1.37 during midday trading on Friday, reaching $379.58. The company had a trading volume of 1,037,698 shares, compared to its average volume of 1,257,407. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The business's 50 day moving average price is $385.24 and its 200 day moving average price is $325.26. The stock has a market cap of $56.56 billion, a PE ratio of 58.76, a P/E/G ratio of 2.26 and a beta of 1.10. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services's quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.