Vestmark Advisory Solutions Inc. Acquires 2,243 Shares of Quanta Services, Inc. $PWR

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Quanta Services by 214% in the first quarter, acquiring an additional 2,243 shares to hold a total of 3,291 shares valued at approximately $837,000.
• Quanta Services reported an earnings per share (EPS) of $2.48 for the last quarter, exceeding the consensus estimate by $0.04, alongside a 21.1% year-over-year revenue growth to $6.77 billion.
• Recent analyst reports have resulted in a varied outlook, with Twelve analysts rating the stock as "hold" and fourteen issuing a "buy" rating, positioning the consensus rating as a "Moderate Buy."

Vestmark Advisory Solutions Inc. grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 214.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,291 shares of the construction company's stock after buying an additional 2,243 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Quanta Services were worth $837,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PWR. Nuveen LLC acquired a new position in shares of Quanta Services in the 1st quarter valued at $404,288,000. Capital World Investors increased its position in shares of Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Quanta Services by 22,475.0% during the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock worth $207,261,000 after purchasing an additional 811,797 shares in the last quarter. Bank of America Corp DE increased its position in shares of Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after purchasing an additional 506,722 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Quanta Services by 433.3% during the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock worth $157,839,000 after purchasing an additional 504,540 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PWR. The Goldman Sachs Group reiterated a "buy" rating and set a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Evercore ISI increased their target price on shares of Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Daiwa America cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their target price on shares of Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, BMO Capital Markets cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and raised their price objective for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Trading Up 1.8%

Shares of NYSE PWR traded up $6.70 during mid-day trading on Friday, hitting $384.91. The company's stock had a trading volume of 296,682 shares, compared to its average volume of 1,402,545. The stock has a market cap of $57.36 billion, a price-to-earnings ratio of 59.58, a price-to-earnings-growth ratio of 2.24 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. The company's fifty day simple moving average is $384.80 and its 200-day simple moving average is $324.52.

Quanta Services (NYSE:PWR - Get Free Report) last issued 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. The company had revenue of $6.77 billion for 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%. The company's revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

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.