Horizon Investments LLC Has $1.24 Million Stake in Quanta Services, Inc. $PWR

Key Points

• Horizon Investments LLC has reduced its stake in Quanta Services, Inc. by 44.2%, now holding 4,859 shares valued at approximately $1.24 million.
• Brokerages have mixed sentiments on Quanta Services, with Daiwa America downgrading the stock to a "hold" rating, while DA Davidson raised the price target from $305 to $395.
• Quanta Services reported quarterly earnings of $2.48 EPS, surpassing expectations and reflecting a revenue increase of 21.1% year-over-year.

Horizon Investments LLC lowered its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 44.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,859 shares of the construction company's stock after selling 3,851 shares during the quarter. Horizon Investments LLC's holdings in Quanta Services were worth $1,235,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 407,878 shares in the last quarter. Capital World Investors lifted its stake in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after acquiring an additional 891,977 shares in the last quarter. Bank of America Corp DE boosted its position 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 acquiring an additional 506,722 shares during the period. Nuveen LLC purchased a new position in Quanta Services during the 1st quarter valued at about $404,288,000. Finally, Northern Trust Corp increased its holdings in shares of Quanta Services by 18.5% in the 4th quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company's stock valued at $470,735,000 after purchasing an additional 232,375 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.5%

NYSE:PWR traded up $1.90 during trading hours on Thursday, reaching $377.77. The company's stock had a trading volume of 485,803 shares, compared to its average volume of 1,408,030. 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 company has a market cap of $56.29 billion, a price-to-earnings ratio of 58.48, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The business's 50-day moving average is $384.41 and its 200-day moving average is $324.00.

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 (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the business posted $1.90 earnings per share. The firm's revenue 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. Equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Wall Street Analyst Weigh In

PWR has been the subject of several research reports. TD Cowen raised their price target on shares of Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Northland Securities lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 target price for the company. in a research note on Wednesday, July 2nd. DA Davidson boosted their price target on shares of Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Stifel Nicolaus increased their price objective on Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Daiwa America downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services 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.