Korea Investment CORP Has $61.55 Million Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Korea Investment CORP increased its holdings in Quanta Services, Inc. by 94.0% during the first quarter, owning 242,132 shares valued at approximately $61.5 million.
• Quanta Services reported a revenue increase of 21.1% year-over-year, achieving $6.77 billion during the last quarter with earnings per share of $2.48.
• Institutional ownership of Quanta Services is strong, with hedge funds and other investors owning 90.49% of the company’s stock, reflecting significant confidence in the firm’s prospects.

Korea Investment CORP increased its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 94.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 242,132 shares of the construction company's stock after acquiring an additional 117,301 shares during the period. Korea Investment CORP owned about 0.16% of Quanta Services worth $61,545,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Banque Transatlantique SA bought a new stake in Quanta Services in the fourth quarter valued at approximately $25,000. Quarry LP bought a new stake in Quanta Services in the fourth quarter valued at approximately $26,000. Cullen Frost Bankers Inc. bought a new stake in Quanta Services in the first quarter valued at approximately $25,000. Zions Bancorporation National Association UT bought a new stake in Quanta Services in the first quarter valued at approximately $40,000. Finally, OLD Second National Bank of Aurora bought a new stake in Quanta Services in the first quarter valued at approximately $42,000. Institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PWR shares. JPMorgan Chase & Co. upped their price objective on Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. B. Riley upped their target price on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and issued a $370.00 target price (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Finally, Truist Financial upped their target price on Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Thirteen investment 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Price Performance

NYSE:PWR traded up $1.37 during trading hours on Friday, reaching $379.58. 1,037,698 shares of the company were exchanged, compared to its average volume of 1,257,407. The company has a market capitalization of $56.56 billion, a P/E ratio of 58.76, a P/E/G ratio of 2.25 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 company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The business has a 50 day moving average of $385.24 and a 200 day moving average of $325.07.

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, topping analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Research analysts forecast that Quanta Services, Inc. will post 9.34 EPS 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.