Baird Financial Group Inc. Has $15.66 Million Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Baird Financial Group Inc. reduced its stake in Quanta Services, Inc. by 30.0%, holding 61,592 shares valued at approximately $15.66 million after selling 26,364 shares in the first quarter.
• Quanta Services recently reported $2.48 earnings per share for the last quarter, exceeding analyst estimates of $2.44, and had a revenue of $6.77 billion, up 21.1% year-over-year.
• The company's stock has an average price target of $392.45 from analysts, with both 13 Buy and 12 Hold ratings issued for the stock.

Baird Financial Group Inc. lessened its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 30.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,592 shares of the construction company's stock after selling 26,364 shares during the quarter. Baird Financial Group Inc.'s holdings in Quanta Services were worth $15,655,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PWR. Nuveen LLC acquired a new stake in Quanta Services in the 1st quarter valued at approximately $404,288,000. GAMMA Investing LLC raised its position in Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after buying an additional 811,797 shares during the last quarter. Bank of America Corp DE increased its position in shares of 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 worth $534,647,000 after purchasing an additional 506,722 shares during the last quarter. Jennison Associates LLC increased its position in shares of Quanta Services by 433.3% during the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock worth $157,839,000 after purchasing an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

PWR has been the topic of several recent analyst reports. DA Davidson boosted their price target on Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. TD Cowen boosted their price target on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Finally, BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price target for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and an average price target of $392.45.

Quanta Services Stock Down 2.0%

PWR stock opened at $378.24 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $56.36 billion, a PE ratio of 58.55, a PEG ratio of 2.24 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 simple moving average is $387.61 and its 200 day simple moving average is $328.76.

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

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be paid a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a 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.

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