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

Key Points

• Driehaus Capital Management LLC increased its ownership in Quanta Services, Inc. by 5.8%, now holding approximately 0.08% of the company, worth around $28.5 million.
• Analysts have mixed ratings for Quanta Services, with price targets ranging from $355 to $410, while the stock has an average rating of "Moderate Buy" and a consensus target price of $392.45.
• Quanta Services reported strong quarterly earnings of $2.48 per share, beating estimates, and has announced a quarterly dividend of $0.10 per share, yielding 0.1% annually.

Driehaus Capital Management LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,043 shares of the construction company's stock after purchasing an additional 6,163 shares during the period. Driehaus Capital Management LLC owned 0.08% of Quanta Services worth $28,479,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PWR. Brighton Jones LLC bought a new stake in shares of Quanta Services during the 4th quarter valued at $298,000. Quarry LP bought a new stake in Quanta Services in the 4th quarter valued at $26,000. Lido Advisors LLC increased its holdings in Quanta Services by 12.5% in the 4th quarter. Lido Advisors LLC now owns 5,108 shares of the construction company's stock valued at $1,614,000 after acquiring an additional 566 shares during the last quarter. AQR Capital Management LLC increased its holdings in Quanta Services by 14.5% in the 4th quarter. AQR Capital Management LLC now owns 39,911 shares of the construction company's stock valued at $12,614,000 after acquiring an additional 5,042 shares during the last quarter. Finally, Comerica Bank increased its holdings in Quanta Services by 4.0% in the 4th quarter. Comerica Bank now owns 37,832 shares of the construction company's stock valued at $11,957,000 after acquiring an additional 1,451 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Down 0.4%

Shares of PWR stock traded down $1.60 during trading hours on Wednesday, reaching $373.08. 522,219 shares of the stock were exchanged, compared to its average volume of 1,377,261. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. 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 $387.65 and its 200-day moving average price is $329.08. The firm has a market capitalization of $55.59 billion, a price-to-earnings ratio of 57.75, a price-to-earnings-growth ratio of 2.24 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results 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 net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. During the same period in the previous year, the company earned $1.90 EPS. The firm'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, equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be paid 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%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PWR shares. BMO Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $352.00 to $400.00 in a report on Thursday, July 17th. UBS Group lifted their price target on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a report on Friday, July 25th. Roth Capital reiterated a "buy" rating and issued a $450.00 price target (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Finally, Wall Street Zen downgraded shares of Quanta Services from a "buy" rating to a "hold" rating in a report on Saturday. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $392.45.

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.