MetLife Investment Management LLC Sells 756 Shares of Quanta Services, Inc. $PWR

Key Points

• MetLife Investment Management LLC sold 756 shares of Quanta Services, Inc., decreasing its holdings by 1.8% to a total of 40,231 shares valued at approximately $10.2 million.
• Quanta Services received multiple rating changes from analysts, with BMO Capital Markets raising its price target from $352 to $400 while maintaining a "market perform" rating.
• The company's latest quarterly earnings exceeded expectations, reporting $2.48 EPS and a revenue rise of 21.1% year-over-year, with future guidance of $10.280-10.880 EPS for FY 2025.

MetLife Investment Management LLC lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,231 shares of the construction company's stock after selling 756 shares during the quarter. MetLife Investment Management LLC's holdings in Quanta Services were worth $10,226,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Synovus Financial Corp lifted its position in shares of Quanta Services by 86.1% during the first quarter. Synovus Financial Corp now owns 12,741 shares of the construction company's stock worth $3,239,000 after purchasing an additional 5,895 shares in the last quarter. Quantitative Investment Management LLC purchased a new position in Quanta Services in the first quarter valued at approximately $5,667,000. Northwestern Mutual Wealth Management Co. increased its stake in Quanta Services by 33.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 12,089 shares of the construction company's stock valued at $3,073,000 after purchasing an additional 2,997 shares during the last quarter. Groupe la Francaise increased its stake in Quanta Services by 187.5% in the first quarter. Groupe la Francaise now owns 34,457 shares of the construction company's stock valued at $8,782,000 after purchasing an additional 22,470 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of Quanta Services during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

NYSE PWR traded down $7.72 during trading on Friday, hitting $378.24. The company's stock had a trading volume of 774,371 shares, compared to its average volume of 1,012,933. The firm has a market cap of $56.36 billion, a P/E ratio of 58.55, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $424.94. The firm has a 50 day moving average price of $387.37 and a 200 day moving average price of $327.65.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analysts' expectations 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 previous year, the business posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's payout ratio is currently 6.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PWR. TD Cowen raised their target price on shares of Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Truist Financial raised their target price on Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a report on Monday, August 4th. Daiwa America downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Wall Street Zen downgraded Quanta Services from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Argus set a $375.00 price target on Quanta Services in a research note on Monday, May 5th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services Company 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.