Quanta Services, Inc. $PWR Shares Bought by Groupe la Francaise

Key Points

• Groupe la Francaise increased its stake in Quanta Services by 187.5%, acquiring an additional 22,470 shares worth approximately $8.78 million in total.
• Quanta Services reported a quarterly EPS of $2.48, beating analyst expectations of $2.44, with a 21.1% year-over-year revenue growth at $6.77 billion.
• Analysts have raised their price targets for PWR, with Citigroup increasing its target from $432 to $492, and most analysts maintain a buy rating on the stock.

Groupe la Francaise lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 187.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,457 shares of the construction company's stock after acquiring an additional 22,470 shares during the period. Groupe la Francaise's holdings in Quanta Services were worth $8,782,000 as of its most recent SEC filing.

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

Quanta Services Trading Up 0.4%

PWR opened at $379.58 on Friday. The firm has a market capitalization 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. The firm's 50 day moving average is $385.24 and its 200-day moving average is $325.07. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. 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 (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 analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The business's quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PWR has been the topic of several research reports. Citigroup raised their price target on shares of Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a report on Monday, July 28th. Truist Financial raised their price target on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a report on Monday, August 4th. Evercore ISI raised their price target on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, August 8th. TD Cowen raised their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $392.45.

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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