Chicago Capital LLC Has $22.20 Million Position in Quanta Services, Inc. $PWR

Key Points

• Chicago Capital LLC increased its stake in Quanta Services, Inc. by 17.0% in the 2nd quarter, bringing its total investment to $22.20 million.
• JPMorgan Chase & Co. raised their target price for Quanta Services from $345.00 to $392.00, while other analysts show a mix of upgrades and downgrades, resulting in an average rating of "Moderate Buy" for the stock.
• Quanta Services has announced a $0.10 quarterly dividend, with a yield of 0.1%, and is projected to post 9.34 earnings per share for the current fiscal year.

Chicago Capital LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 17.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,724 shares of the construction company's stock after purchasing an additional 8,524 shares during the quarter. Chicago Capital LLC's holdings in Quanta Services were worth $22,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Lee Johnson Capital Management LLC bought a new stake in Quanta Services during the 2nd quarter worth approximately $1,628,000. HCR Wealth Advisors grew its holdings in Quanta Services by 11.2% during the 2nd quarter. HCR Wealth Advisors now owns 7,551 shares of the construction company's stock worth $2,855,000 after acquiring an additional 760 shares during the last quarter. Capital Investment Advisors LLC bought a new stake in Quanta Services during the 2nd quarter worth approximately $217,000. Asio Capital LLC grew its holdings in Quanta Services by 3.3% during the 2nd quarter. Asio Capital LLC now owns 14,112 shares of the construction company's stock worth $5,335,000 after acquiring an additional 450 shares during the last quarter. Finally, Wolff Wiese Magana LLC grew its holdings in Quanta Services by 134.9% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,943 shares of the construction company's stock worth $735,000 after acquiring an additional 1,116 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PWR shares. JPMorgan Chase & Co. boosted their target price on shares of Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a research report on Thursday, July 10th. Wall Street Zen downgraded shares of Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Truist Financial upped their price objective on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Northland Securities downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a report on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and an average price target of $404.27.

Quanta Services Trading Up 0.9%

Shares of Quanta Services stock opened at $409.12 on Tuesday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The company has a market cap of $60.96 billion, a price-to-earnings ratio of 63.33, a PEG ratio of 2.41 and a beta of 1.01. 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 company's 50-day moving average price is $388.67 and its 200-day moving average price is $346.40.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly 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. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the firm posted $1.90 earnings per share. The company'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 analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services's dividend payout ratio (DPR) is currently 6.19%.

About Quanta Services

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.

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