Aptus Capital Advisors LLC Boosts Stake in Quanta Services, Inc. $PWR

Key Points

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Aptus Capital Advisors LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 19.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,699 shares of the construction company's stock after buying an additional 7,761 shares during the quarter. Aptus Capital Advisors LLC's holdings in Quanta Services were worth $12,378,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PWR. Nuveen LLC purchased a new stake in shares of Quanta Services during the 1st quarter valued at about $404,288,000. GAMMA Investing LLC grew its holdings in Quanta Services by 22,475.0% during the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after purchasing an additional 811,797 shares during the last quarter. Bank of America Corp DE grew its holdings in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares during the last quarter. Jennison Associates LLC grew its holdings in Quanta Services by 433.3% during the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after purchasing an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.4%

Shares of NYSE PWR traded up $1.37 during midday trading on Friday, reaching $379.58. 1,037,698 shares of the company's stock traded hands, 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 stock's 50 day simple moving average is $385.24 and its 200-day simple moving average is $325.07. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The company has a market cap of $56.56 billion, a price-to-earnings ratio of 58.76, a P/E/G ratio of 2.25 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data 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. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the firm earned $1.90 earnings per share. The company's quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PWR. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a report on Thursday, July 10th. Sanford C. Bernstein downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on shares of Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday. Finally, B. Riley upped their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $392.45.

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.