T. Rowe Price Investment Management Inc. Sells 4,285 Shares of Quanta Services, Inc. $PWR

T. Rowe Price Investment Management Inc. lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 816,825 shares of the construction company’s stock after selling 4,285 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 0.55% of Quanta Services worth $207,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Banque Transatlantique SA bought a new stake in shares of Quanta Services during the 4th quarter valued at $25,000. Quarry LP acquired a new stake in shares of Quanta Services during the fourth quarter worth $26,000. Cullen Frost Bankers Inc. bought a new stake in Quanta Services in the first quarter valued at about $25,000. Zions Bancorporation National Association UT acquired a new position in Quanta Services in the first quarter valued at about $40,000. Finally, OLD Second National Bank of Aurora bought a new position in Quanta Services during the first quarter worth about $42,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

NYSE PWR opened at $375.54 on Thursday. The firm has a market capitalization of $55.96 billion, a P/E ratio of 58.13, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average price is $384.41 and its two-hundred day moving average price is $324.00. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $424.94.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping 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 company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the business earned $1.90 EPS. Quanta Services’s revenue for the quarter was up 21.1% compared to the same quarter last year. 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 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on PWR shares. Roth Capital reaffirmed a “buy” rating and issued a $450.00 price target (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. BMO Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and upped their target price for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Northland Securities cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target on the stock. in a research report on Wednesday, July 2nd. Citigroup lifted their target price on Quanta Services from $432.00 to $492.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Finally, Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target 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.