Select Equity Group L.P. Cuts Stake in Quanta Services, Inc. $PWR

Key Points

• Select Equity Group L.P. has reduced its stake in Quanta Services, Inc. by 17.6%, owning approximately 600,728 shares post-sale.
• Several hedge funds have increased their positions in Quanta Services, with notable increases including a 22,475.0% growth by GAMMA Investing LLC.
• Quanta Services reported earnings of $2.48 per share for the last quarter, exceeding expectations and showing a 21.1% revenue increase year-over-year.

Select Equity Group L.P. reduced its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 600,728 shares of the construction company's stock after selling 128,648 shares during the period. Select Equity Group L.P. owned about 0.41% of Quanta Services worth $152,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services in the first quarter valued at about $25,000. WPG Advisers LLC bought a new stake in Quanta Services in the first quarter valued at approximately $31,000. AlphaQuest LLC bought a new stake in Quanta Services in the first quarter valued at approximately $35,000. Zions Bancorporation National Association UT bought a new stake in Quanta Services in the first quarter valued at approximately $40,000. Finally, OLD Second National Bank of Aurora bought a new stake in Quanta Services in the first quarter valued at approximately $42,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on PWR shares. Citigroup upped their target price on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a report on Monday, July 28th. The Goldman Sachs Group reiterated a "buy" rating and issued a $414.00 target price (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. 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. Roth Capital reiterated a "buy" rating and issued a $450.00 target price (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Finally, BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and upped their price target for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $397.18.

Quanta Services Price Performance

NYSE:PWR traded down $2.00 during trading hours on Friday, hitting $387.64. The stock had a trading volume of 341,954 shares, compared to its average volume of 1,359,089. The company has a 50 day simple moving average of $387.74 and a two-hundred day simple moving average of $333.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The firm has a market capitalization of $57.76 billion, a price-to-earnings ratio of 60.01, a P/E/G ratio of 2.32 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results 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 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 business's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

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.