BI Asset Management Fondsmaeglerselskab A S Has $1.35 Million Position in Quanta Services, Inc. $PWR

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Quanta Services by 47%, currently owning 5,299 shares valued at approximately $1.35 million.
• Quanta Services reported an earnings per share (EPS) of $2.48 for the last quarter, surpassing analyst expectations and marking a year-over-year revenue increase of 21.1%.
• Thirteen analysts currently rate Quanta Services with a "Buy" rating, with a consensus target price of $392.45.

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 47.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,299 shares of the construction company's stock after selling 4,705 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Quanta Services were worth $1,347,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PWR. Brighton Jones LLC bought a new stake in Quanta Services during the fourth quarter worth approximately $298,000. Natixis bought a new stake in Quanta Services during the fourth quarter worth approximately $741,000. MGO One Seven LLC boosted its holdings in Quanta Services by 179.1% during the fourth quarter. MGO One Seven LLC now owns 13,609 shares of the construction company's stock worth $4,301,000 after buying an additional 8,733 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Quanta Services by 0.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 821,110 shares of the construction company's stock worth $259,512,000 after buying an additional 3,720 shares in the last quarter. Finally, Syon Capital LLC bought a new stake in Quanta Services during the fourth quarter worth approximately $250,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PWR. Sanford C. Bernstein cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price for the company. in a report on Monday, July 28th. Evercore ISI raised their target price on shares of Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Northland Securities cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price for the company. in a report on Wednesday, July 2nd. B. Riley raised their price objective 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. Finally, Northland Capmk lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Trading Up 0.4%

Quanta Services stock traded up $1.37 during midday trading on Friday, reaching $379.58. The stock had a trading volume of 1,037,698 shares, compared to its average volume of 1,240,736. The firm's fifty day simple moving average is $385.24 and its two-hundred day simple moving average is $325.36. The firm has a market cap of $56.56 billion, a price-to-earnings ratio of 58.76, a PEG ratio of 2.26 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR - Get Free Report) last issued 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 company had revenue of $6.77 billion during the quarter, compared to analyst estimates 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 for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts anticipate 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.