Raymond James Financial Inc. Has $166.06 Million Position in Quanta Services, Inc. $PWR

Key Points

• Raymond James Financial Inc. increased its stake in Quanta Services, Inc. by 1.7%, owning approximately 653,310 shares valued at $166.06 million as of the latest SEC disclosure.
• Analysts have given a consensus rating of "Moderate Buy" for Quanta Services, with a price target of $392.45, indicating growth potential for the stock.
• Quanta Services reported a quarterly earnings increase, with an EPS of $2.48 surpassing expectations, and revenue showed a 21.1% year-over-year growth.

Raymond James Financial Inc. raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 653,310 shares of the construction company's stock after acquiring an additional 10,790 shares during the period. Raymond James Financial Inc. owned 0.44% of Quanta Services worth $166,058,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in Quanta Services in the 4th quarter valued at approximately $25,000. Quarry LP bought a new stake in shares of Quanta Services during the 4th quarter worth $26,000. Cullen Frost Bankers Inc. bought a new stake in shares of Quanta Services during the 1st quarter worth $25,000. Zions Bancorporation National Association UT bought a new stake in Quanta Services in the 1st quarter valued at $40,000. Finally, OLD Second National Bank of Aurora acquired a new position in shares of Quanta Services in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the subject of a number of analyst reports. B. Riley boosted their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. UBS Group upped their price objective on Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research note on Friday, July 25th. BMO Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and increased their target price for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Roth Capital restated a "buy" rating and set a $450.00 price target (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Finally, Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services Trading Up 0.4%

Shares of PWR stock traded up $1.37 during mid-day trading on Friday, hitting $379.58. 1,037,662 shares of the company's stock were exchanged, compared to its average volume of 1,405,101. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The stock has a 50-day simple moving average of $384.80 and a two-hundred day simple moving average of $324.52. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The stock has a market cap of $56.56 billion, a price-to-earnings ratio of 58.76, a PEG ratio of 2.24 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm's revenue was up 21.1% compared to the same quarter last year. During the same period last year, the company posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

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.