Quanta Services, Inc. $PWR Stock Bought by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Quanta Services stake by 22.4% in the third quarter, adding 66,070 shares to reach 360,599 shares valued at about $231.7 million. Institutional investors collectively own 90.49% of the company.
• Quanta reported quarterly earnings of $6.06 per share, beating the $5.02 consensus, while revenue of $12.01 billion exceeded estimates and rose 57.4% year over year.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and an average price target of $763.81, though the article also notes pressure on AI-related shares and heightened expectations after the strong quarter.

Pictet Asset Management Holding SA increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 22.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,599 shares of the construction company's stock after acquiring an additional 66,070 shares during the period. Pictet Asset Management Holding SA owned approximately 0.24% of Quanta Services worth $231,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PWR. Pegasus Asset Management Inc. boosted its holdings in Quanta Services by 1.1% in the third quarter. Pegasus Asset Management Inc. now owns 14,627 shares of the construction company's stock worth $9,398,000 after acquiring an additional 163 shares in the last quarter. Flagship Wealth Advisors LLC grew its stake in shares of Quanta Services by 12.6% in the third quarter. Flagship Wealth Advisors LLC now owns 1,271 shares of the construction company's stock worth $817,000 after acquiring an additional 142 shares during the last quarter. Tamar Securities LLC increased its holdings in shares of Quanta Services by 2.3% during the third quarter. Tamar Securities LLC now owns 33,999 shares of the construction company's stock valued at $21,845,000 after acquiring an additional 755 shares in the last quarter. Plancorp LLC bought a new position in shares of Quanta Services during the third quarter valued at $326,000. Finally, Alps Advisors Inc. raised its position in shares of Quanta Services by 7.2% in the 3rd quarter. Alps Advisors Inc. now owns 4,432 shares of the construction company's stock worth $2,848,000 after purchasing an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 6.3%

PWR stock opened at $540.88 on Friday. The stock has a market capitalization of $81.50 billion, a P/E ratio of 48.99, a P/E/G ratio of 1.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.13. Quanta Services, Inc. has a 1-year low of $408.36 and a 1-year high of $788.75. The business has a fifty day moving average price of $628.83 and a 200-day moving average price of $626.39.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The construction company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.02 by $1.04. Quanta Services had a return on equity of 23.56% and a net margin of 4.51%. The company had revenue of $12.01 billion for the quarter, compared to analysts' expectations of $11.03 billion. During the same period last year, the firm posted $3.33 earnings per share. Quanta Services's revenue was up 57.4% compared to the same quarter last year. Equities analysts forecast that Quanta Services, Inc. will post 16.61 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Thursday, October 1st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, October 1st. Quanta Services's dividend payout ratio (DPR) is presently 3.99%.

Key Headlines Impacting Quanta Services

Here are the key news stories impacting Quanta Services this week:

• Positive Sentiment: Quanta’s latest reported quarter topped analyst estimates: earnings were $6.06 per share versus $5.02 expected, while revenue reached $12.01 billion versus $11.03 billion expected. The results reinforce demand for the company’s infrastructure work. Quanta Services stock faces a higher execution bar after record quarter
• Positive Sentiment: Bernstein initiated a Buy view on PWR, and Zacks Research upgraded its rating from Hold to Strong Buy, adding to favorable analyst sentiment. Quanta Services gets a Buy from Bernstein Zacks Research upgrade
• Neutral Sentiment: Oppenheimer maintained its Outperform rating after PWR fell, signaling continued confidence but no new upgrade. Oppenheimer maintains Outperform
• Negative Sentiment: A post-election backlash against the AI trade has pressured industrial and AI-infrastructure shares, with Quanta among the stocks singled out in the selloff. Weakness in AI-related stocks could weigh on PWR despite its strong fundamentals. Industrial stocks hit by AI backlash selloff
• Negative Sentiment: Following the record quarter, investors may expect continued exceptional execution, leaving less room for future results to disappoint. Execution bar after record quarter

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PWR shares. The Goldman Sachs Group set a $781.00 price target on shares of Quanta Services in a research note on Thursday, October 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $862.00 price objective on shares of Quanta Services in a research note on Monday, October 5th. UBS Group reaffirmed a "buy" rating on shares of Quanta Services in a report on Monday, August 17th. Truist Financial upped their target price on shares of Quanta Services from $945.00 to $960.00 and gave the stock a "buy" rating in a research note on Tuesday, October 27th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Quanta Services to a "sell" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Quanta Services has a consensus rating of "Moderate Buy" and a consensus target price of $763.81.

About Quanta Services

Quanta Services, Inc provides specialized contracting and infrastructure services to the electric power, energy and communications industries. Its work spans the planning, design, construction, repair and maintenance of essential infrastructure.

The company's services include electric transmission and distribution lines, substations, renewable energy facilities, natural gas and pipeline systems, and communications networks. Quanta supports projects across the infrastructure lifecycle, from initial development and construction to ongoing upgrades and maintenance.

Founded in 1997, Quanta serves customers primarily in North America, with operations also extending to Australia and other international markets.

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