Westpac Banking Corp Invests $1.76 Million in Quanta Services, Inc. $PWR

Westpac Banking Corp bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,257 shares of the construction company’s stock, valued at approximately $1,764,000.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC purchased a new stake in Quanta Services during the fourth quarter worth $298,000. Woodline Partners LP raised its holdings in shares of Quanta Services by 40.7% during the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after acquiring an additional 3,606 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in Quanta Services by 1.2% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after purchasing an additional 26 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Quanta Services by 4.3% in the second quarter. Teacher Retirement System of Texas now owns 22,501 shares of the construction company’s stock worth $8,507,000 after buying an additional 924 shares in the last quarter. Finally, World Investment Advisors lifted its stake in Quanta Services by 612.5% in the 2nd quarter. World Investment Advisors now owns 5,871 shares of the construction company’s stock worth $2,220,000 after purchasing an additional 5,047 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.3%

PWR opened at $564.30 on Friday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $573.94. The business has a fifty day moving average price of $475.30 and a 200 day moving average price of $438.55. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.14 and a quick ratio of 1.09. The stock has a market capitalization of $84.43 billion, a price-to-earnings ratio of 82.99, a PEG ratio of 2.58 and a beta of 1.15.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 19th. The construction company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.14. The firm had revenue of $7.84 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Quanta Services had a return on equity of 18.10% and a net margin of 3.61%.The firm’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.94 earnings per share. Quanta Services has set its FY 2026 guidance at 12.650-13.350 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Argus set a $540.00 price target on Quanta Services in a report on Friday, October 31st. UBS Group raised their price target on shares of Quanta Services from $518.00 to $646.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Evercore reissued an “outperform” rating and set a $604.00 target price on shares of Quanta Services in a research note on Friday, February 20th. JPMorgan Chase & Co. upped their price target on Quanta Services from $515.00 to $627.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Finally, Citigroup raised their price objective on Quanta Services from $540.00 to $640.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Sixteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $562.95.

Quanta Services Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.