Corient IA LLC Invests $508,000 in Quanta Services, Inc. $PWR

Key Points

• Corient IA LLC recently purchased 2,000 shares of Quanta Services, valued at approximately $508,000, as part of their investment strategy in the company.
• Quanta Services reported a quarterly earnings of $2.48 per share, surpassing estimates and demonstrating a 21.1% increase in revenue compared to the previous year.
• The stock has received a mix of ratings from analysts, currently holding a consensus rating of "Moderate Buy" with an average target price of $392.45.

Corient IA LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,000 shares of the construction company's stock, valued at approximately $508,000.

Other large investors have also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new position in shares of Quanta Services in the fourth quarter worth approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of Quanta Services in the first quarter worth approximately $25,000. Quarry LP purchased a new position in shares of Quanta Services in the fourth quarter worth approximately $26,000. Zions Bancorporation National Association UT purchased a new position in shares of Quanta Services in the first quarter worth approximately $40,000. Finally, OLD Second National Bank of Aurora purchased a new position in shares of Quanta Services in the first quarter worth approximately $42,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PWR shares. Citigroup lifted their price target on shares of Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a report on Monday, July 28th. B. Riley boosted their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. UBS Group boosted their price target on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services Trading Up 1.9%

Shares of PWR traded up $7.35 during midday trading on Friday, hitting $385.56. The stock had a trading volume of 470,936 shares, compared to its average volume of 1,403,606. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The firm has a market cap of $57.45 billion, a PE ratio of 59.68, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The stock's 50 day moving average is $384.80 and its 200 day moving average is $324.52.

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

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.