Cresset Asset Management LLC Buys 22,020 Shares of Quanta Services, Inc. $PWR

Key Points

• Cresset Asset Management LLC increased its stake in Quanta Services by 799.3% during the first quarter, owning 24,775 shares valued at approximately $6.30 million as per their 13F filing.
• Quanta Services reported $2.48 EPS for the last quarter, beating analyst estimates and marking a 21.1% revenue increase from the same quarter last year.
• The company's recent quarterly dividend was $0.10 per share, with a 0.1% dividend yield and a payout ratio of 6.19%.

Cresset Asset Management LLC boosted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 799.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,775 shares of the construction company's stock after buying an additional 22,020 shares during the quarter. Cresset Asset Management LLC's holdings in Quanta Services were worth $6,297,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Forvis Mazars Wealth Advisors LLC lifted its holdings in Quanta Services by 5.6% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 29,984 shares of the construction company's stock worth $7,621,000 after buying an additional 1,596 shares in the last quarter. Wealthedge Investment Advisors LLC acquired a new position in shares of Quanta Services in the 1st quarter valued at $498,000. Ethic Inc. lifted its stake in shares of Quanta Services by 10.9% in the 1st quarter. Ethic Inc. now owns 31,191 shares of the construction company's stock valued at $8,044,000 after purchasing an additional 3,067 shares during the period. Aberdeen Group plc lifted its stake in shares of Quanta Services by 33.4% in the 1st quarter. Aberdeen Group plc now owns 105,958 shares of the construction company's stock valued at $26,494,000 after purchasing an additional 26,549 shares during the period. Finally, Providence Capital Advisors LLC acquired a new position in shares of Quanta Services in the 1st quarter valued at $3,715,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Up 0.4%

Shares of NYSE:PWR traded up $1.40 during mid-day trading on Friday, reaching $379.61. 688,850 shares of the stock were exchanged, compared to its average volume of 1,404,942. The stock's 50 day simple moving average is $384.80 and its 200-day simple moving average is $324.52. 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 $56.57 billion, a P/E ratio of 58.76, a P/E/G ratio of 2.24 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target on the stock. in a research note on Wednesday, July 2nd. Seaport Res Ptn raised Quanta Services to a "hold" rating in a research note on Thursday, July 10th. B. Riley increased their price target on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Sanford C. Bernstein downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective on the stock. in a research note on Monday, July 28th. Finally, Roth Capital reaffirmed a "buy" rating and set a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average target price of $392.45.

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.