Candriam S.C.A. Boosts Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Candriam S.C.A. increased its stake in Quanta Services by 33.9% during the first quarter, bringing its total holdings to 53,025 shares valued at approximately $13.5 million.
• Quanta Services reported strong quarterly earnings, with an EPS of $2.48, surpassing estimates, and revenue of $6.77 billion, showing a 21.1% year-over-year increase.
• Analysts have a consensus rating of "Moderate Buy" for Quanta Services, with price targets ranging from $375 to $474 per share.

Candriam S.C.A. lifted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 33.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,025 shares of the construction company's stock after purchasing an additional 13,416 shares during the quarter. Candriam S.C.A.'s holdings in Quanta Services were worth $13,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Transatlantique SA purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of Quanta Services in the 1st quarter valued at approximately $25,000. Quarry LP purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $26,000. Zions Bancorporation National Association UT purchased a new position in shares of Quanta Services in the 1st quarter valued at approximately $40,000. Finally, OLD Second National Bank of Aurora purchased a new position in shares of Quanta Services in the 1st quarter valued at approximately $42,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

PWR traded up $1.37 during trading on Friday, reaching $379.58. 1,037,698 shares of the company's stock were exchanged, compared to its average volume of 1,257,407. 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 market capitalization of $56.56 billion, a P/E ratio of 58.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10. The company's fifty day simple moving average is $385.24 and its 200-day simple moving average is $325.26. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate 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 net margin of 3.73% and a return on equity of 18.41%. The business's quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PWR has been the subject of several research analyst reports. Truist Financial increased their price objective on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Sanford C. Bernstein lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target for the company. in a research report on Monday, July 28th. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Stifel Nicolaus raised their price target on shares of Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $392.45.

Quanta Services 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.