Driehaus Capital Management LLC Raises Stock Holdings in Quanta Services, Inc. $PWR

Driehaus Capital Management LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 5.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,043 shares of the construction company’s stock after buying an additional 6,163 shares during the period. Driehaus Capital Management LLC owned approximately 0.08% of Quanta Services worth $28,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PWR. Nuveen LLC purchased a new stake in Quanta Services in the 1st quarter valued at about $404,288,000. GAMMA Investing LLC raised 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. Bank of America Corp DE raised its holdings in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after buying an additional 506,722 shares during the period. Jennison Associates LLC raised its holdings in Quanta Services by 433.3% in the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock valued at $157,839,000 after buying an additional 504,540 shares during the period. Finally, Vanguard Group Inc. raised 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 valued at $4,427,129,000 after buying an additional 407,878 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PWR shares. B. Riley boosted their price objective on shares of Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Wall Street Zen lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler reiterated an “overweight” rating and set a $370.00 price target (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Finally, Sanford C. Bernstein lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target on the stock. in a research note on Monday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $392.45.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $378.24 on Friday. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The company has a market cap of $56.36 billion, a PE ratio of 58.55, a P/E/G ratio of 2.29 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The business has a 50-day simple moving average of $387.37 and a 200-day simple moving average of $327.65.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the company posted $1.90 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. 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.