Hsbc Holdings PLC Decreases Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Hsbc Holdings PLC has reduced its stake in Quanta Services, Inc. by 1.2%, owning 409,470 shares worth approximately $103.68 million as of the latest SEC filing.
• Several analysts have recently revised their price targets for Quanta Services, with upgrades from Stifel Nicolaus and Evercore ISI, now setting a price objective between $410.00 and $432.00, indicating a positive outlook.
• In its most recent quarterly earnings report, Quanta Services reported $2.48 EPS, exceeding expectations and demonstrating a 21.1% increase in revenue year-over-year.

Hsbc Holdings PLC decreased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 409,470 shares of the construction company's stock after selling 4,806 shares during the period. Hsbc Holdings PLC owned approximately 0.28% of Quanta Services worth $103,676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SCP Investment LP bought a new position in shares of Quanta Services in the 1st quarter valued at $966,000. Brighton Jones LLC bought a new position in shares of Quanta Services in the 4th quarter valued at $298,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after purchasing an additional 2,479 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after purchasing an additional 588 shares during the last quarter. Finally, Objectivity Squared LLC bought a new stake in Quanta Services during the 1st quarter worth $213,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Trading Up 0.4%

PWR traded up $1.37 during midday trading on Friday, hitting $379.58. 1,037,698 shares of the company were exchanged, compared to its average volume of 1,257,407. The firm has a market capitalization of $56.56 billion, a P/E ratio of 58.76, a P/E/G ratio of 2.26 and a beta of 1.10. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $424.94. The firm's 50 day moving average price is $385.24 and its 200-day moving average price is $325.26. 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 announced its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the business earned $1.90 EPS. The business's quarterly revenue 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. As a group, equities analysts forecast 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 a number of research reports. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. B. Riley boosted their price objective on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Citigroup boosted their price objective on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. UBS Group boosted their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Sanford C. Bernstein lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective on the stock. in a research report on Monday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.