Select Equity Group L.P. Lowers Position in Quanta Services, Inc. $PWR

Select Equity Group L.P. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 17.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PWR. Nuveen LLC purchased a new position in shares of Quanta Services in the 1st quarter valued at approximately $404,288,000. GAMMA Investing LLC grew its holdings in Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock valued at $207,261,000 after buying an additional 811,797 shares during the period. Amundi grew its holdings in shares of Quanta Services by 188.3% during the 1st quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after purchasing an additional 788,079 shares during the period. Jennison Associates LLC grew its holdings 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 during the period. Finally, Vanguard Group Inc. boosted its holdings in Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after acquiring an additional 407,878 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. DA Davidson upped their price target on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Northland Securities cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target on the stock. in a research note on Wednesday, July 2nd. UBS Group lifted their target price on Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a research note on Friday, July 25th. TD Cowen lifted their target price on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Truist Financial boosted their price target on Quanta Services from $375.00 to $472.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $397.18.

Quanta Services Price Performance

Quanta Services stock opened at $372.56 on Friday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The stock has a market cap of $55.52 billion, a price-to-earnings ratio of 57.67, a P/E/G ratio of 2.21 and a beta of 1.01. The business’s 50-day simple moving average is $387.38 and its 200 day simple moving average is $330.88.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

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

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.