Next Century Growth Investors LLC Has $1.78 Million Holdings in Quanta Services, Inc. $PWR

Key Points

• Next Century Growth Investors LLC reduced its stake in Quanta Services by 47.7%, now holding $1.78 million in shares after selling 6,380 shares in the first quarter.
• Institutional ownership of Quanta Services is strong, with 90.49% of the stock held by large investors and hedge funds.
• Quanta Services reported earnings surpassing estimates with $2.48 EPS for the last quarter and a revenue of $6.77 billion, marking a 21.1% year-over-year increase.

Next Century Growth Investors LLC reduced its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 47.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,991 shares of the construction company's stock after selling 6,380 shares during the period. Next Century Growth Investors LLC's holdings in Quanta Services were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of PWR. OMERS ADMINISTRATION Corp boosted its position in shares of Quanta Services by 14.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 11,834 shares of the construction company's stock worth $3,008,000 after purchasing an additional 1,467 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in Quanta Services by 106.6% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 20,881 shares of the construction company's stock valued at $5,307,000 after acquiring an additional 10,776 shares in the last quarter. CreativeOne Wealth LLC increased its stake in Quanta Services by 12.4% in the 1st quarter. CreativeOne Wealth LLC now owns 2,387 shares of the construction company's stock valued at $607,000 after buying an additional 264 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in Quanta Services in the 1st quarter valued at about $32,344,000. Finally, Taikang Asset Management Hong Kong Co Ltd increased its position in shares of Quanta Services by 35.9% during the first quarter. Taikang Asset Management Hong Kong Co Ltd now owns 12,650 shares of the construction company's stock valued at $3,215,000 after acquiring an additional 3,340 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PWR. DA Davidson increased their price target on Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Truist Financial raised their price target on Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Seaport Res Ptn raised Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Finally, Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target on the stock. in a research report on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $392.45.

Quanta Services Stock Down 0.4%

Shares of NYSE:PWR opened at $382.29 on Thursday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94. The stock's 50-day moving average is $386.50 and its 200 day moving average is $326.61. 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 $56.97 billion, a PE ratio of 59.18, a P/E/G ratio of 2.28 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping 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 quarter in the prior year, the business posted $1.90 EPS. The firm's quarterly 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. Sell-side analysts anticipate 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.

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