Prudential PLC Sells 2,900 Shares of Quanta Services, Inc. $PWR

Key Points

• Prudential PLC significantly reduced its stake in Quanta Services by 58.4%, now owning only 2,066 shares worth $525,000.
• Several institutional investors have recently acquired new positions in Quanta Services, with hedge funds holding about 90.49% of the company's stock.
• Analysts have mixed ratings on Quanta Services, with targets ranging from $354.00 to $474.00, indicating a consensus rating of "Moderate Buy."

Prudential PLC lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 58.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,066 shares of the construction company's stock after selling 2,900 shares during the quarter. Prudential PLC's holdings in Quanta Services were worth $525,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after acquiring an additional 407,878 shares during the last quarter. Capital World Investors increased its holdings 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 during the last quarter. Bank of America Corp DE increased its holdings in Quanta Services by 42.8% in 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 last quarter. Nuveen LLC purchased a new stake in Quanta Services in the 1st quarter worth about $404,288,000. Finally, Northern Trust Corp increased its holdings in Quanta Services by 18.5% in the 4th quarter. Northern Trust Corp now owns 1,489,433 shares of the construction company's stock worth $470,735,000 after acquiring an additional 232,375 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

PWR has been the subject of several recent research reports. Truist Financial lifted their price objective on Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Wall Street Zen upgraded Quanta Services from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Argus set a $375.00 target price on Quanta Services in a research note on Monday, May 5th. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $352.00 to $400.00 in a research note on Thursday, July 17th. Finally, Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note 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 company. According to MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Price Performance

Shares of PWR traded up $2.24 during trading hours on Thursday, reaching $378.11. 699,785 shares of the company's stock traded hands, compared to its average volume of 1,276,249. The stock has a market cap of $56.34 billion, a PE ratio of 58.53, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm's 50 day simple moving average is $384.80 and its 200-day simple moving average is $324.52. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94.

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 analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion during 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 company's revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the company posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts expect 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.