Norinchukin Bank The Raises Stake in Quanta Services, Inc. $PWR

Key Points

• Norinchukin Bank increased its stake in Quanta Services, Inc. by 12.9%, owning 6,629 shares, valued at $1,685,000 as per the latest SEC filing.
• Analyst reports show a mix of upgraded and downgraded ratings for Quanta Services, with price targets ranging from $355 to $425, reflecting a consensus rating of "Moderate Buy."
• Quanta Services reported $2.48 earnings per share, exceeding analyst estimates, contributing to a 21.1% increase in quarterly revenue compared to the previous year.

Norinchukin Bank The boosted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,629 shares of the construction company's stock after acquiring an additional 757 shares during the period. Norinchukin Bank The's holdings in Quanta Services were worth $1,685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC raised its stake in Quanta Services by 1.1% in the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock valued at $792,000 after acquiring an additional 34 shares during the period. Legacy Capital Wealth Partners LLC raised its stake in Quanta Services by 3.4% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock valued at $277,000 after acquiring an additional 36 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Quanta Services by 2.6% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock valued at $365,000 after acquiring an additional 37 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in Quanta Services by 15.6% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company's stock valued at $72,000 after acquiring an additional 38 shares during the period. Finally, Kerntke Otto McGlone Wealth Management Group raised its stake in Quanta Services by 3.0% in the 1st quarter. Kerntke Otto McGlone Wealth Management Group now owns 1,356 shares of the construction company's stock valued at $345,000 after acquiring an additional 39 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PWR has been the topic of several analyst reports. B. Riley upped their price target on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their price target on Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and upped their price target for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, TD Cowen upped their price target on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. 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, Quanta Services has a consensus rating of "Moderate Buy" and an average price target of $392.45.

Quanta Services Stock Up 0.4%

Shares of PWR opened at $379.58 on Friday. The firm has a market cap 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 stock has a 50 day simple moving average of $385.24 and a two-hundred day simple moving average of $325.07.

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

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