Erste Asset Management GmbH Has $26.32 Million Position in Quanta Services, Inc. $PWR

Key Points

• Erste Asset Management GmbH increased its holdings in Quanta Services, Inc. by 48.3% during the first quarter, owning a total of 103,539 shares valued at approximately $26.32 million.
• Quanta Services reported earnings per share of $2.48, exceeding analysts' expectations, with a quarterly revenue of $6.77 billion, up 21.1% from the previous year.
• The company's shares have a market capitalization of $56.39 billion and a PE ratio of 58.58, with analysts providing a consensus rating of "Moderate Buy" and a target price of around $392.45.

Erste Asset Management GmbH raised its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 48.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,539 shares of the construction company's stock after acquiring an additional 33,722 shares during the period. Erste Asset Management GmbH owned approximately 0.07% of Quanta Services worth $26,323,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PWR. Nuveen LLC bought a new stake in shares of Quanta Services in the first quarter valued at about $404,288,000. GAMMA Investing LLC lifted its stake in shares of Quanta Services by 22,475.0% in the first 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 period. Bank of America Corp DE lifted its stake 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 buying an additional 506,722 shares during the period. Jennison Associates LLC lifted 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 valued at $157,839,000 after buying an additional 504,540 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Quanta Services by 2.4% in 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 period. Institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of NYSE PWR traded up $1.37 during mid-day trading on Friday, hitting $379.58. 1,037,698 shares of the stock were exchanged, compared to its average volume of 1,257,407. The company has a market cap of $56.56 billion, a P/E ratio of 58.76, a PEG ratio of 2.26 and a beta of 1.10. The stock's fifty day simple moving average is $385.24 and its two-hundred day simple moving average is $325.26. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The business 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%. Quanta Services's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. 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.

Analyst Upgrades and Downgrades

PWR has been the subject of several research reports. Evercore ISI increased their target price on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and increased their price target for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. Stifel Nicolaus increased their price target on shares of Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. B. Riley increased their price target on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Citigroup increased their price target on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $392.45.

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.