Ethic Inc. Acquires 3,067 Shares of Quanta Services, Inc. $PWR

Key Points

• Ethic Inc. increased its stock position in Quanta Services, Inc. by 10.9% in the first quarter, acquiring a total of 31,191 shares worth approximately $8.04 million.
• Institutional investors and hedge funds collectively own 90.49% of Quanta Services' stock, indicating strong interest from the investment community.
• Quanta Services reported earnings of $2.48 per share for the last quarter, exceeding analyst expectations, with revenue growth of 21.1% year-over-year.

Ethic Inc. grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,191 shares of the construction company's stock after purchasing an additional 3,067 shares during the quarter. Ethic Inc.'s holdings in Quanta Services were worth $8,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PWR. Vanguard Group Inc. raised its stake in Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after buying an additional 407,878 shares during the period. Capital World Investors raised its stake in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after buying an additional 891,977 shares during the period. Bank of America Corp DE raised its stake in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after buying an additional 506,722 shares during the period. Nuveen LLC acquired a new position in Quanta Services during the 1st quarter worth approximately $404,288,000. Finally, Northern Trust Corp raised its stake in Quanta Services by 18.5% during the 4th quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company's stock worth $470,735,000 after buying an additional 232,375 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PWR shares. Seaport Res Ptn raised Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Evercore ISI upped their price target on Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. increased their price objective on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Citigroup increased their price objective on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Thirteen 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services Stock Up 0.4%

Shares of Quanta Services stock traded up $1.43 on Thursday, hitting $377.30. The company had a trading volume of 293,897 shares, compared to its average volume of 1,406,971. The stock has a market capitalization of $56.22 billion, a price-to-earnings ratio of 58.41, a P/E/G ratio of 2.26 and a beta of 1.10. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The stock has a 50 day moving average of $384.41 and a 200-day moving average of $324.00. 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 (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 18.41% and a net margin of 3.73%.Quanta Services's quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current 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.