CenterBook Partners LP Buys 7,281 Shares of Quanta Services, Inc. $PWR

CenterBook Partners LP increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 493.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,757 shares of the construction company’s stock after acquiring an additional 7,281 shares during the quarter. CenterBook Partners LP’s holdings in Quanta Services were worth $5,626,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Quanta Services by 4.7% in the 2nd quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock valued at $4,739,164,000 after buying an additional 296,893 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Quanta Services by 3,657.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 221,485 shares of the construction company’s stock valued at $121,600,000 after acquiring an additional 215,591 shares in the last quarter. Corient Private Wealth LP boosted its stake in Quanta Services by 731.3% in the 2nd quarter. Corient Private Wealth LP now owns 210,091 shares of the construction company’s stock worth $151,273,000 after purchasing an additional 184,819 shares during the period. Bank of America Corp DE boosted its stake in Quanta Services by 5.4% in the 1st quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company’s stock worth $1,891,215,000 after purchasing an additional 175,184 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Quanta Services by 18.3% in the first quarter. First Trust Advisors LP now owns 1,003,917 shares of the construction company’s stock valued at $551,170,000 after purchasing an additional 155,529 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Key Stories Impacting Quanta Services

Here are the key news stories impacting Quanta Services this week:

• Positive Sentiment: Quanta’s latest reported quarter topped analyst estimates: earnings were $6.06 per share versus $5.02 expected, while revenue reached $12.01 billion versus $11.03 billion expected. The results reinforce demand for the company’s infrastructure work. Quanta Services stock faces a higher execution bar after record quarter
• Positive Sentiment: Bernstein initiated a Buy view on PWR, and Zacks Research upgraded its rating from Hold to Strong Buy, adding to favorable analyst sentiment. Quanta Services gets a Buy from Bernstein Zacks Research upgrade
• Neutral Sentiment: Oppenheimer maintained its Outperform rating after PWR fell, signaling continued confidence but no new upgrade. Oppenheimer maintains Outperform
• Negative Sentiment: A post-election backlash against the AI trade has pressured industrial and AI-infrastructure shares, with Quanta among the stocks singled out in the selloff. Weakness in AI-related stocks could weigh on PWR despite its strong fundamentals. Industrial stocks hit by AI backlash selloff
• Negative Sentiment: Following the record quarter, investors may expect continued exceptional execution, leaving less room for future results to disappoint. Execution bar after record quarter

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PWR. Truist Financial raised their price target on shares of Quanta Services from $945.00 to $960.00 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. UBS Group reaffirmed a “buy” rating on shares of Quanta Services in a research report on Monday, August 17th. Benchmark downgraded Quanta Services to a “sell” rating in a report on Friday, July 31st. Argus set a $800.00 price objective on shares of Quanta Services in a research report on Wednesday, August 5th. Finally, Piper Sandler cut their target price on shares of Quanta Services from $731.00 to $714.00 and set an “overweight” rating for the company in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $763.81.

Quanta Services Stock Performance

PWR stock traded up $31.82 during mid-day trading on Friday, hitting $540.88. 2,775,356 shares of the company were exchanged, compared to its average volume of 1,301,242. Quanta Services, Inc. has a 1-year low of $408.36 and a 1-year high of $788.75. The stock has a market capitalization of $81.50 billion, a PE ratio of 48.99, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29. The business has a 50 day simple moving average of $628.83 and a 200-day simple moving average of $626.39. The company has a current ratio of 1.16, a quick ratio of 1.13 and a debt-to-equity ratio of 0.60.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 29th. The construction company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.02 by $1.04. Quanta Services had a return on equity of 23.56% and a net margin of 4.51%. The business had revenue of $12.01 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same period last year, the firm posted $3.33 EPS. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, equities analysts forecast that Quanta Services, Inc. will post 16.61 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, October 1st. Quanta Services’s payout ratio is 3.99%.

About Quanta Services

Quanta Services, Inc provides specialized contracting and infrastructure services to the electric power, energy and communications industries. Its work spans the planning, design, construction, repair and maintenance of essential infrastructure.

The company’s services include electric transmission and distribution lines, substations, renewable energy facilities, natural gas and pipeline systems, and communications networks. Quanta supports projects across the infrastructure lifecycle, from initial development and construction to ongoing upgrades and maintenance.

Founded in 1997, Quanta serves customers primarily in North America, with operations also extending to Australia and other international markets.