Union Bancaire Privee UBP SA Purchases 12,160 Shares of Quanta Services, Inc. $PWR

Key Points

• Union Bancaire Privee UBP SA increased its stake in Quanta Services, Inc. by 7.7% in the second quarter, owning a total of 170,339 shares worth approximately $64.1 million.
• Quanta Services reported $2.48 earnings per share (EPS) for the last quarter, surpassing estimates, and announced a quarterly dividend of $0.10 per share.
• Institutional investors hold 90.49% of Quanta Services' stock, reflecting strong interest among hedge funds and financial institutions.

Union Bancaire Privee UBP SA boosted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,339 shares of the construction company's stock after acquiring an additional 12,160 shares during the quarter. Quanta Services accounts for 1.3% of Union Bancaire Privee UBP SA's holdings, making the stock its 22nd largest holding. Union Bancaire Privee UBP SA owned 0.11% of Quanta Services worth $64,096,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PWR. Vanguard Group Inc. grew its stake in shares of Quanta Services by 2.4% during the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after buying an additional 407,878 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Quanta Services during the second quarter worth $650,960,000. Nuveen LLC bought a new stake in shares of Quanta Services during the first quarter worth $404,288,000. Northern Trust Corp grew its stake in shares of Quanta Services by 3.8% during the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock worth $392,839,000 after buying an additional 56,081 shares during the last quarter. Finally, Amundi grew its stake in shares of Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock worth $304,139,000 after buying an additional 788,079 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PWR. Daiwa America cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Citigroup boosted their target price on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. boosted their price objective on shares of Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Roth Capital reissued a "buy" rating and issued a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Finally, BMO Capital Markets cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and boosted their price objective for the stock from $352.00 to $400.00 in a research note on Thursday, July 17th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $404.27.

Quanta Services Price Performance

PWR stock opened at $409.12 on Tuesday. The firm has a market cap of $60.96 billion, a price-to-earnings ratio of 63.33, a PEG ratio of 2.41 and a beta of 1.01. 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, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The company's fifty day simple moving average is $388.67 and its 200 day simple moving average is $346.40.

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

Quanta Services Announces Dividend

The business 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 dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services's dividend payout ratio is currently 6.19%.

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.

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