BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 5,761 Shares of Quanta Services, Inc. $PWR

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has reduced its holdings in Quanta Services, Inc. by 6.2%, now owning 87,464 shares valued at approximately $22.2 million.
• Quanta Services reported quarterly earnings of $2.48 per share, surpassing analysts' expectations, with a revenue increase of 21.1% year-over-year.
• The stock has a current market capitalization of $56.56 billion and has seen a price target range set by analysts between $354.00 and $395.00.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,464 shares of the construction company's stock after selling 5,761 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of Quanta Services worth $22,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SCP Investment LP bought a new stake in Quanta Services during the first quarter worth approximately $966,000. Brighton Jones LLC bought a new stake in Quanta Services during the fourth quarter worth approximately $298,000. Wealth Enhancement Advisory Services LLC boosted its position in Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after purchasing an additional 2,479 shares during the period. Farther Finance Advisors LLC boosted its position in Quanta Services by 60.0% during the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after purchasing an additional 588 shares during the period. Finally, Objectivity Squared LLC bought a new stake in Quanta Services during the first quarter worth approximately $213,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

NYSE:PWR opened at $379.58 on Friday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The firm has a 50 day moving average of $385.24 and a 200-day moving average of $325.26. 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 stock has a market capitalization of $56.56 billion, a P/E ratio of 58.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10.

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 (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 company had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. Quanta Services's quarterly revenue was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PWR shares. Argus set a $375.00 target price on Quanta Services in a research report on Monday, May 5th. DA Davidson lifted 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. Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target on the stock. in a research report on Wednesday, July 2nd. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and lifted their price target for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price target on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $392.45.

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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