Public Sector Pension Investment Board Sells 183,380 Shares of Quanta Services, Inc. $PWR

Key Points

• The Public Sector Pension Investment Board reduced its stake in Quanta Services, Inc. by 90.1%, selling 183,380 shares and ending with 20,138 shares worth approximately $5.12 million.
• Several other hedge funds have increased their positions in Quanta Services, with Vanguard Group boosting its shares by 2.4% and Bank of America increasing its stake by 42.8%.
• Analysts have a consensus rating of "Moderate Buy" for Quanta Services, with a 12-month price target averaging $392.45.

Public Sector Pension Investment Board lessened its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 90.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,138 shares of the construction company's stock after selling 183,380 shares during the period. Public Sector Pension Investment Board's holdings in Quanta Services were worth $5,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. SouthState Corp acquired a new position in Quanta Services in the 1st quarter valued at $84,000. Nuveen LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth $404,288,000. Bornite Capital Management LP grew its holdings in shares of Quanta Services by 21.4% during the 1st quarter. Bornite Capital Management LP now owns 68,700 shares of the construction company's stock worth $17,462,000 after purchasing an additional 12,100 shares in the last quarter. Zevenbergen Capital Investments LLC grew its holdings in shares of Quanta Services by 11.3% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 108,796 shares of the construction company's stock worth $27,654,000 after purchasing an additional 11,031 shares in the last quarter. Finally, Pandora Wealth Inc. acquired a new stake in shares of Quanta Services during the 1st quarter worth $525,000. Institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Evercore ISI increased their target price on Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Roth Capital restated a "buy" rating and set a $450.00 price objective (up from $350.00) on shares of Quanta Services in a research report on Tuesday, July 29th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $370.00 target price (up from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $1.75 during midday trading on Thursday, reaching $377.62. 393,361 shares of the company traded hands, compared to its average volume of 1,407,565. 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 12 month low of $227.08 and a 12 month high of $424.94. The firm has a market capitalization of $56.27 billion, a price-to-earnings ratio of 58.46, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10. The firm's fifty day moving average price is $384.41 and its two-hundred day moving average price is $324.00.

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. 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 analyst estimates of $6.55 billion. During the same period in the previous year, the company posted $1.90 EPS. The firm's revenue for the quarter 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. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

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.