Quanta Services, Inc. $PWR Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A has reduced its stake in Quanta Services, Inc. by 31.3%, owning approximately $19.8 million worth of shares after selling 35,464 shares in the first quarter.
• Quanta Services reported a strong financial performance for the quarter ending July 31, with an EPS of $2.48, exceeding analysts' estimates and a year-over-year revenue increase of 21.1%.
• The company recently declared a quarterly dividend of $0.10 per share, reflecting a 0.1% yield and a payout ratio of 6.19%.

Credit Agricole S A lessened its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 31.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,958 shares of the construction company's stock after selling 35,464 shares during the period. Credit Agricole S A owned approximately 0.05% of Quanta Services worth $19,815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PWR. Nuveen LLC purchased a new stake in Quanta Services during the first quarter valued at approximately $404,288,000. GAMMA Investing LLC boosted its holdings 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 worth $207,261,000 after buying an additional 811,797 shares during the period. Bank of America Corp DE lifted its position in shares of Quanta Services by 42.8% in the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after acquiring an additional 506,722 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Quanta Services by 433.3% in the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock worth $157,839,000 after acquiring an additional 504,540 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after buying 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 Trading Up 0.4%

Quanta Services stock traded up $1.37 during trading hours on Friday, hitting $379.58. The company had a trading volume of 1,037,698 shares, compared to its average volume of 1,257,407. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The firm has a market cap of $56.56 billion, a P/E ratio of 58.76, a P/E/G ratio of 2.26 and a beta of 1.10. The company has a 50-day moving average price of $385.24 and a two-hundred day moving average price of $325.26. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping 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 the consensus estimate of $6.55 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Quanta Services's revenue for the quarter 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. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on PWR. BMO Capital Markets cut shares of 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 note on Thursday, July 17th. UBS Group upped their price target on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Evercore ISI lifted their price objective on shares of Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. TD Cowen increased their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Sanford C. Bernstein cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective on the stock. in a research note on Monday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.