Quanta Services, Inc. $PWR Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. significantly reduced its stake in Quanta Services by 58.1%, now holding 161,747 shares valued at approximately $41 million.
• Quanta Services reported revenue of $6.77 billion for the most recent quarter, outperforming analyst estimates and showing a year-over-year growth of 21.1%.
• Thirteen analysts have a Buy rating for Quanta Services, with a consensus price target of approximately $392.45.

American Century Companies Inc. decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 58.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,747 shares of the construction company's stock after selling 224,070 shares during the quarter. American Century Companies Inc. owned about 0.11% of Quanta Services worth $41,113,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PWR. Nuveen LLC purchased a new stake in shares of Quanta Services in the 1st quarter valued at $404,288,000. GAMMA Investing LLC boosted its holdings in shares of Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after acquiring an additional 811,797 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of 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 valued at $534,647,000 after acquiring an additional 506,722 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Quanta Services by 433.3% in the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after acquiring an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after acquiring an additional 407,878 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of several recent research reports. Argus set a $375.00 price objective on shares of Quanta Services in a report on Monday, May 5th. Roth Capital reissued a "buy" rating and set a $450.00 price target (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Stifel Nicolaus increased their price target on shares of Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 4th. DA Davidson increased their price target on shares of Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, UBS Group increased their price target on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services Price Performance

PWR traded up $1.37 during midday trading on Friday, hitting $379.58. 1,037,698 shares of the company traded hands, compared to its average volume of 1,257,407. 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 company has a market capitalization of $56.56 billion, a price-to-earnings ratio of 58.76, a PEG ratio of 2.26 and a beta of 1.10. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The business has a 50 day simple moving average of $385.24 and a two-hundred day simple moving average of $325.26.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company's revenue was up 21.1% compared to the same quarter last year. During the same period last 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, equities 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.