T. Rowe Price Investment Management Inc. Cuts Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Quanta Services, Inc. by 0.5%, selling 4,285 shares during the first quarter, leaving them with approximately 816,825 shares valued at around $207.6 million.
• Quanta Services reported $2.48 earnings per share for the last quarter, exceeding analyst expectations, with a net revenue of $6.77 billion, showing a 21.1% increase compared to the previous year.
• Analysts have mixed ratings for Quanta Services, with recent price targets ranging from $354.00 to $492.00, indicating a general consensus of a "Moderate Buy" with an average price target of about $392.45.

T. Rowe Price Investment Management Inc. cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 816,825 shares of the construction company's stock after selling 4,285 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.55% of Quanta Services worth $207,621,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in Quanta Services during the 4th quarter worth approximately $25,000. Quarry LP acquired a new stake in Quanta Services during the 4th quarter worth approximately $26,000. Cullen Frost Bankers Inc. acquired a new stake in Quanta Services during the 1st quarter worth approximately $25,000. Zions Bancorporation National Association UT acquired a new stake in Quanta Services during the 1st quarter worth approximately $40,000. Finally, OLD Second National Bank of Aurora acquired a new stake in Quanta Services during the 1st quarter worth approximately $42,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. B. Riley lifted their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on shares of Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Evercore ISI raised their price target on shares of Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Northland Capmk lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Finally, Argus set a $375.00 price target on shares of Quanta Services in a report on Monday, May 5th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Trading Up 0.4%

Shares of NYSE:PWR traded up $1.37 during mid-day trading on Friday, hitting $379.58. The company had a trading volume of 1,037,698 shares, compared to its average volume of 1,257,407. The firm has a fifty day moving average price of $385.24 and a 200 day moving average price of $325.26. The company has a market capitalization of $56.56 billion, a PE ratio of 58.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10. 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.

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

Quanta Services Company 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.