Quanta Services, Inc. $PWR Position Reduced by American Century Companies Inc.

American Century Companies Inc. cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 58.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,747 shares of the construction company’s stock after selling 224,070 shares during the quarter. American Century Companies Inc. owned 0.11% of Quanta Services worth $41,113,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. SCP Investment LP purchased a new stake in Quanta Services during the first quarter valued at about $966,000. Brighton Jones LLC purchased a new stake in Quanta Services during the fourth quarter valued at about $298,000. Wealth Enhancement Advisory Services LLC lifted its stake in Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company’s stock valued at $17,480,000 after buying an additional 2,479 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Quanta Services by 60.0% during the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company’s stock valued at $404,000 after buying an additional 588 shares in the last quarter. Finally, Objectivity Squared LLC purchased a new stake in shares of Quanta Services in the first quarter worth approximately $213,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of PWR opened at $375.54 on Thursday. The firm has a market cap of $55.96 billion, a PE ratio of 58.13, a PEG ratio of 2.26 and a beta of 1.10. The firm’s 50 day moving average price is $384.41 and its 200 day moving average price is $324.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94.

Quanta Services (NYSE:PWR) last issued 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 firm 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 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $370.00 price target (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Evercore ISI increased their price target 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. JPMorgan Chase & Co. increased their price target 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. Northland Capmk lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Finally, TD Cowen increased their price target on shares of Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $392.45.

Quanta Services 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.