Quanta Services, Inc. $PWR Shares Sold by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets has reduced its stake in Quanta Services, Inc. by 38.9%, owning 178,121 shares worth approximately $45.3 million as of the latest SEC filing.
• The company reported $2.48 earnings per share for the last quarter, exceeding estimates, with a revenue of $6.77 billion, showing a 21.1% year-over-year increase.
• Analysts generally maintain a positive outlook, with an average rating of "Moderate Buy" and a consensus price target of $392.45 for Quanta Services stock.

BNP Paribas Financial Markets lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 38.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 178,121 shares of the construction company's stock after selling 113,440 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.12% of Quanta Services worth $45,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Nuveen LLC acquired a new stake in shares of Quanta Services in the 1st quarter worth $404,288,000. GAMMA Investing LLC raised its stake in shares of Quanta Services by 22,475.0% during the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after buying an additional 811,797 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Quanta Services by 42.8% during 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 buying an additional 506,722 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Quanta Services by 433.3% during the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock valued at $157,839,000 after buying an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake 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 purchasing an additional 407,878 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of PWR traded up $1.37 during mid-day trading on Thursday, hitting $375.78. 942,107 shares of the company's stock were exchanged, compared to its average volume of 1,376,469. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The firm has a market capitalization of $55.99 billion, a P/E ratio of 58.17, a P/E/G ratio of 2.24 and a beta of 1.01. The business's 50 day moving average is $387.65 and its two-hundred day moving average is $329.39. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 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 net margin of 3.73% and a return on equity of 18.41%. The firm's revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.90 earnings per share. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be given a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is presently 6.19%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PWR. Wall Street Zen lowered Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Sanford C. Bernstein cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price on the stock. in a report on Monday, July 28th. Stifel Nicolaus lifted their price target on shares of Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $397.18.

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.