Groupama Asset Managment Acquires 2,102 Shares of Quanta Services, Inc. $PWR

Key Points

• Groupama Asset Management increased its stake in Quanta Services, Inc. by 12.6%, owning 18,825 shares valued at approximately $4.787 million as of the latest SEC filing.
• Quanta Services reported a 21.1% year-over-year revenue increase with earnings per share (EPS) of $2.48 for the latest quarter, surpassing analyst expectations.
• Thirteen analysts have rated Quanta Services as a Buy, while twelve have given it a Hold rating, indicating a consensus of Moderate Buy with a target price of $392.45.

Groupama Asset Managment raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,825 shares of the construction company's stock after acquiring an additional 2,102 shares during the quarter. Groupama Asset Managment's holdings in Quanta Services were worth $4,787,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PWR. Vanguard Group Inc. boosted its position 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 worth $4,427,129,000 after buying an additional 407,878 shares during the period. Bank of America Corp DE raised its stake in Quanta Services by 42.8% during 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 in the last quarter. Nuveen LLC acquired a new stake in Quanta Services during the first quarter valued at approximately $404,288,000. Northern Trust Corp raised its stake in Quanta Services by 3.8% during the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock valued at $392,839,000 after buying an additional 56,081 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Quanta Services by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock valued at $361,256,000 after buying an additional 82,981 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PWR. B. Riley increased their price target on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Roth Capital restated a "buy" rating and issued a $450.00 target price (up from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Sanford C. Bernstein lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target for the company. in a research note on Monday, July 28th. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Finally, Truist Financial lifted their price target on Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $392.45.

Quanta Services Trading Down 0.2%

NYSE:PWR traded down $0.86 during trading hours on Monday, hitting $378.98. 212,204 shares of the stock were exchanged, compared to its average volume of 1,399,832. The company's 50 day moving average is $385.24 and its two-hundred day moving average is $325.36. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $56.47 billion, a P/E ratio of 58.67, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 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 analysts' expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS. 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 fiscal 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.