Amundi Grows Holdings in Quanta Services, Inc. $PWR

Key Points

• Amundi's Share Acquisition: Amundi increased its stake in Quanta Services, Inc. by 188.3% in the first quarter, holding a total of 1,206,577 shares valued at approximately $304 million as of the latest SEC filing.
• Analyst Ratings Changes: Several analysts have downgraded Quanta Services, with Northland Capital cutting its rating to "hold," while other firms like Stifel Nicolaus and Truist Financial have set higher price targets and maintained "buy" ratings.
• Quarterly Earnings Performance: Quanta Services reported earnings per share of $2.48 for the last quarter, surpassing expectations, with revenue of $6.77 billion reflecting a 21.1% year-over-year increase.

Amundi raised its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 188.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,206,577 shares of the construction company's stock after purchasing an additional 788,079 shares during the period. Amundi owned 0.81% of Quanta Services worth $304,139,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PWR. Vanguard Group Inc. increased its position in shares of Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after buying an additional 407,878 shares during the period. Nuveen LLC bought a new position in Quanta Services during the first quarter valued at approximately $404,288,000. Northern Trust Corp raised its position in Quanta Services by 3.8% in the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock worth $392,839,000 after acquiring an additional 56,081 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Quanta Services by 7.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock worth $361,256,000 after acquiring an additional 82,981 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Quanta Services by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 1,052,982 shares of the construction company's stock worth $267,647,000 after acquiring an additional 28,472 shares during the period. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

PWR has been the topic of several recent analyst reports. Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. DA Davidson lifted their price target on shares of Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Northland Securities cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target for the company. in a research note on Wednesday, July 2nd. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Finally, Truist Financial boosted their price target on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a report on Monday, August 4th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $397.18.

Quanta Services Stock Performance

NYSE PWR traded down $3.53 during mid-day trading on Friday, reaching $372.56. 1,128,430 shares of the stock were exchanged, compared to its average volume of 846,491. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company has a market capitalization of $55.52 billion, a P/E ratio of 57.67, a P/E/G ratio of 2.21 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The business's 50 day moving average is $387.38 and its 200-day moving average is $330.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 3.73% and a return on equity of 18.41%. The company's revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's payout ratio is 6.19%.

Quanta Services Company Profile

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.